Home Depot (NYSE:HD) Sets New 52-Week High – Time to Buy?

Shares of The Home Depot, Inc. (NYSE:HD) reached a new 52-week high during trading on Monday . The stock traded as high as $424.14 and last traded at $424.14, with a volume of 7679 shares traded. The stock had previously closed at $420.00.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. Piper Sandler raised their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Guggenheim upped their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Up 1.8 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $424.69 billion, a P/E ratio of 28.53, a PEG ratio of 2.92 and a beta of 1.01. The business has a fifty day moving average price of $403.23 and a 200-day moving average price of $369.25.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the firm earned $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.11%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new position in Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter worth approximately $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at $40,000. Legacy Investment Solutions LLC purchased a new position in Home Depot in the third quarter worth $41,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter worth $46,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Company Profile

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.