Home Depot (NYSE:HD) Stock Price Up 1% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares rose 1% during mid-day trading on Monday . The company traded as high as $353.20 and last traded at $353.16. Approximately 827,756 shares changed hands during trading, a decline of 76% from the average daily volume of 3,414,169 shares. The stock had previously closed at $349.62.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Truist Financial boosted their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and boosted their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Performance

The company has a market cap of $352.83 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 3.32 and a beta of 1.02. The firm's 50 day simple moving average is $362.65 and its 200-day simple moving average is $379.42. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.63 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.59%. Home Depot's payout ratio is 62.42%.

Insider Activity at Home Depot

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

Institutional Trading of Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Group Ltd. lifted its holdings in shares of Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after acquiring an additional 27 shares during the last quarter. Sollinda Capital Management LLC increased its holdings in shares of Home Depot by 2.5% during the fourth quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer's stock worth $434,000 after buying an additional 27 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its stake in shares of Home Depot by 1.3% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock valued at $831,000 after acquiring an additional 27 shares during the last quarter. Client 1ST Advisory Group LLC raised its position in Home Depot by 1.5% in the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock valued at $688,000 after purchasing an additional 27 shares during the last quarter. Finally, Invst LLC raised its position in Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares during 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.

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