Home Depot (NYSE:HD) Shares Up 2.6% – Time to Buy?

The Home Depot, Inc. (NYSE:HD)’s share price traded up 2.6% during trading on Wednesday . The company traded as high as $408.00 and last traded at $403.16. 1,656,372 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,977,569 shares. The stock had previously closed at $392.78.

Analyst Ratings Changes

A number of analysts recently issued reports on HD shares. Bank of America lifted their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays boosted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Wednesday, October 2nd. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

The firm has a market cap of $400.54 billion, a P/E ratio of 27.39, a PEG ratio of 2.90 and a beta of 1.05. 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’s 50-day moving average is $405.88 and its two-hundred day moving average is $386.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm 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%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.81 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.23%. Home Depot’s payout ratio is currently 61.14%.

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several hedge funds have recently added to or reduced their stakes in HD. Abacus Wealth Partners LLC grew its holdings in shares of Home Depot by 3.7% during 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. grew its stake in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares in the last quarter. Insight Inv LLC grew its stake in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL lifted its position in shares of Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after buying an additional 26 shares during the last quarter. Finally, Highline Wealth Partners LLC lifted its position in shares of Home Depot by 0.4% in the fourth quarter. Highline Wealth Partners LLC now owns 5,962 shares of the home improvement retailer’s stock valued at $2,319,000 after buying an additional 26 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

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.