Home Depot (NYSE:HD) Stock Price Up 1.6% - Time to Buy?

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) rose 1.6% during mid-day trading on Tuesday . The stock traded as high as $368.39 and last traded at $368.59. Approximately 1,210,846 shares were traded during trading, a decline of 65% from the average daily volume of 3,423,088 shares. The stock had previously closed at $362.71.

Analysts Set New Price Targets

HD has been the subject of several research reports. TD Securities reaffirmed a "buy" rating and set a $470.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. DA Davidson dropped their price target on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Finally, Robert W. Baird dropped their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Performance

The stock has a 50-day simple moving average of $360.92 and a 200-day simple moving average of $385.87. The stock has a market cap of $365.65 billion, a PE ratio of 24.99, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HD. K.J. Harrison & Partners Inc raised its stake in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after buying an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after buying an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. acquired a new stake in Home Depot during the fourth quarter valued at approximately $409,000. JPL Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter valued at approximately $3,193,000. Finally, Umpqua Bank raised its stake in Home Depot by 26.5% during the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer's stock valued at $2,425,000 after buying an additional 1,294 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.