Home Depot (NYSE:HD) Trading Up 0.8% – Still a Buy?

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.8% on Monday . The stock traded as high as $393.51 and last traded at $392.45. 927,976 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,819,538 shares. The stock had previously closed at $389.18.

Analysts Set New Price Targets

A number of analysts recently issued reports on HD shares. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Truist Financial upped their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

The stock has a market capitalization of $386.73 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The business’s 50-day moving average price is $406.94 and its 200 day moving average price is $384.58. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the second quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the 3rd quarter valued at about $41,000. Livelsberger Financial Advisory acquired a new position in Home Depot in the 3rd quarter worth about $46,000. Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter worth approximately $47,000. Finally, Quarry LP grew its holdings in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.