Home Depot (NYSE:HD) Shares Up 1.7% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price traded up 1.7% during mid-day trading on Wednesday . The stock traded as high as $364.84 and last traded at $360.34. 1,003,341 shares were traded during trading, a decline of 71% from the average session volume of 3,462,098 shares. The stock had previously closed at $354.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Gordon Haskett cut Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Price Performance

The stock has a fifty day simple moving average of $363.21 and a two-hundred day simple moving average of $391.72. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $357.26 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. Home Depot's dividend payout ratio is presently 61.66%.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, Quarry LP lifted its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors 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.