Home Depot (NYSE:HD) Stock Price Up 0.3% – Still a Buy?

The Home Depot, Inc. (NYSE:HD) traded up 0.3% during mid-day trading on Tuesday . The stock traded as high as $389.75 and last traded at $380.42. 2,437,057 shares were traded during mid-day trading, a decline of 29% from the average session volume of 3,422,684 shares. The stock had previously closed at $379.38.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a report on Monday, May 5th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada dropped their price target on 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, Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Price Performance

The firm has a market cap of $374.54 billion, a P/E ratio of 25.54, a P/E/G ratio of 4.03 and a beta of 1.05. The firm’s fifty day simple moving average is $358.40 and its 200 day simple moving average is $387.85. 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 results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Investors Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at $32,000. Finally, Abound Financial LLC bought a new position in Home Depot in the 1st quarter valued at $31,000. 70.86% of the stock is owned by 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.