Home Depot (NYSE:HD) Trading 2.9% Higher – Should You Buy?

The Home Depot, Inc. (NYSE:HD) shares traded up 2.9% during mid-day trading on Monday . The stock traded as high as $361.77 and last traded at $361.50. 956,123 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,207,596 shares. The stock had previously closed at $351.15.

Analyst Ratings Changes

A number of research firms recently weighed in on HD. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird dropped their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Down 0.8 %

The business has a 50-day simple moving average of $392.82 and a two-hundred day simple moving average of $399.16. 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 company has a market capitalization of $358.50 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.55%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Institutional Inflows and Outflows

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