Home Depot (NYSE:HD) Shares Up 0.2% – Time to Buy?

Shares of The Home Depot, Inc. (NYSE:HD) rose 0.2% during mid-day trading on Tuesday . The stock traded as high as $393.17 and last traded at $393.17. Approximately 297,118 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,382,184 shares. The stock had previously closed at $392.45.

Analysts Set New Price Targets

HD has been the topic of several research analyst reports. Truist Financial raised their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Barclays lifted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The company has a fifty day simple moving average of $409.93 and a two-hundred day simple moving average of $381.53. The stock has a market capitalization of $393.51 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.93 and a beta of 1.03. 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 posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.81 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.27%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last three months. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several hedge funds have recently modified their holdings of HD. Fairway Wealth LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the second quarter worth $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the second quarter worth $40,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the third quarter valued at $41,000. Finally, Livelsberger Financial Advisory bought a new position in Home Depot during the 3rd quarter worth $46,000. Institutional investors and hedge funds 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.