Home Depot (NYSE:HD) Trading 0.4% Higher – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s share price rose 0.4% during mid-day trading on Thursday . The company traded as high as $411.57 and last traded at $411.58. Approximately 753,354 shares traded hands during trading, a decline of 76% from the average daily volume of 3,081,694 shares. The stock had previously closed at $410.10.

Analyst Ratings Changes

HD has been the topic of several analyst reports. Barclays raised their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Truist Financial boosted their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 0.0 %

The firm has a market cap of $411.77 billion, a PE ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a fifty day moving average price of $407.14 and a two-hundred day moving average price of $390.16.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 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 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.81 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given 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 2.17%. Home Depot’s payout ratio is 61.14%.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of Home Depot by 92.4% during the second quarter. AQR Capital Management LLC now owns 304,156 shares of the home improvement retailer’s stock worth $103,872,000 after buying an additional 146,106 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new position in shares of Home Depot during the second quarter valued at about $225,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Home Depot in the second quarter valued at about $662,000. MBB Public Markets I LLC grew its position in Home Depot by 2,826.7% during the second quarter. MBB Public Markets I LLC now owns 70,474 shares of the home improvement retailer’s stock worth $24,260,000 after buying an additional 68,066 shares in the last quarter. Finally, Maverick Capital Ltd. increased its stake in Home Depot by 331.0% during the second quarter. Maverick Capital Ltd. now owns 13,198 shares of the home improvement retailer’s stock valued at $4,543,000 after acquiring an additional 10,136 shares during the period. 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.