Home Depot (NYSE:HD) Trading 1.9% Higher – Still a Buy?

The Home Depot, Inc. (NYSE:HD)’s stock price traded up 1.9% during mid-day trading on Friday . The stock traded as high as $435.75 and last traded at $434.64. 828,958 shares traded hands during trading, a decline of 75% from the average session volume of 3,359,720 shares. The stock had previously closed at $426.54.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HD shares. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The stock has a fifty day moving average of $409.96 and a 200-day moving average of $374.14. The firm has a market capitalization of $427.76 billion, a P/E ratio of 29.53, a PEG ratio of 2.98 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the business earned $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.09%. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s 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 in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently added to or reduced their stakes in HD. Abacus Wealth Partners LLC lifted its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the last quarter. Insight Inv LLC lifted its position in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares in the last quarter. Capital City Trust Co. FL boosted its stake in Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the last quarter. Finally, Ruedi Wealth Management Inc. increased its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

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.