Home Depot (NYSE:HD) Trading 0.4% Higher – Should You Buy?

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.4% on Wednesday . The stock traded as high as $430.10 and last traded at $428.88. Approximately 504,813 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,384,596 shares. The stock had previously closed at $427.27.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Piper Sandler boosted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. UBS Group upped their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Cowen raised their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Down 0.0 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $406.69 and a 200-day simple moving average of $371.20. The firm has a market cap of $424.35 billion, a PE ratio of 29.02, a PEG ratio of 2.97 and a beta of 1.01.

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

Home Depot Dividend Announcement

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 $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.11%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on 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 owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in Home Depot in the first quarter worth about $430,000. Verity Asset Management Inc. bought a new stake in Home Depot during the 1st quarter worth approximately $215,000. Soltis Investment Advisors LLC boosted its position in shares of Home Depot by 6.8% in the first quarter. Soltis Investment Advisors LLC now owns 2,825 shares of the home improvement retailer’s stock worth $1,084,000 after purchasing an additional 179 shares during the period. Clear Rock Advisors LLC increased its stake in shares of Home Depot by 1.0% in the first quarter. Clear Rock Advisors LLC now owns 7,802 shares of the home improvement retailer’s stock worth $2,993,000 after purchasing an additional 78 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Home Depot by 32.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 26,096 shares of the home improvement retailer’s stock valued at $10,010,000 after buying an additional 6,371 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.