Home Depot (NYSE:HD) Stock Price Up 1% – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s share price rose 1% on Monday . The company traded as high as $381.74 and last traded at $380.53. Approximately 888,322 shares traded hands during trading, a decline of 73% from the average daily volume of 3,292,489 shares. The stock had previously closed at $376.80.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm’s fifty day moving average price is $400.21 and its 200 day moving average price is $400.02. The firm has a market cap of $371.65 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Home Depot during the fourth quarter worth $5,032,910,000. Raymond James Financial Inc. purchased a new stake in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Northern Trust Corp grew its stake in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $471,189,000. 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.