Home Depot (NYSE:HD) Stock Price Up 0.1% – Still a Buy?

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.1% during trading on Tuesday . The stock traded as high as $361.44 and last traded at $357.63. 534,796 shares were traded during trading, a decline of 85% from the average session volume of 3,475,758 shares. The stock had previously closed at $357.20.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.08.

Home Depot Trading Down 0.7 %

The company has a fifty day simple moving average of $374.14 and a two-hundred day simple moving average of $395.67. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $352.52 billion, a PE ratio of 24.09, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Several hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth about $28,000. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $32,000. Finally, Quarry LP raised its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.