Home Depot (NYSE:HD) Trading 2.4% Higher – Should You Buy?

by · The Markets Daily

Shares of The Home Depot, Inc. (NYSE:HD – Get Free Report) traded up 2.4% during mid-day trading on Tuesday . The company traded as high as $419.40 and last traded at $419.39. 705,365 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,996,039 shares. The stock had previously closed at $409.38.

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. 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. Royal Bank of Canada raised their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Finally, Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. 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’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Get Our Latest Report on Home Depot

Home Depot Trading Up 1.9 %

The stock has a 50-day moving average of $406.53 and a two-hundred day moving average of $388.73. The company has a market cap of $414.36 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05. 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 – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $3.81 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.16%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of Home Depot by 11.1% during the second quarter. Pacer Advisors Inc. now owns 76,914 shares of the home improvement retailer’s stock valued at $26,477,000 after purchasing an additional 7,702 shares in the last quarter. ProShare Advisors LLC raised its stake in Home Depot by 8.6% during the second quarter. ProShare Advisors LLC now owns 245,701 shares of the home improvement retailer’s stock valued at $84,580,000 after purchasing an additional 19,360 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Home Depot during the second quarter valued at $5,852,000. Harmony Asset Management LLC increased its holdings in shares of Home Depot by 5.1% in the 2nd quarter. Harmony Asset Management LLC now owns 12,877 shares of the home improvement retailer’s stock worth $4,433,000 after buying an additional 626 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its position in shares of Home Depot by 18.2% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 24,570 shares of the home improvement retailer’s stock valued at $8,458,000 after buying an additional 3,780 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

About Home Depot

(Get Free Report)

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.

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