Home Depot (NYSE:HD) Trading 0.3% Higher - Still a Buy?

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) were up 0.3% on Wednesday . The company traded as high as $409.97 and last traded at $409.76. Approximately 499,056 shares changed hands during trading, a decline of 85% from the average daily volume of 3,359,299 shares. The stock had previously closed at $408.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a "buy" rating and a $420.00 price objective on the stock. Mizuho boosted their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the company a "sector perform" rating in a research note on Monday, November 11th. Finally, Bank of America increased their price objective on Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report 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 issued a buy rating to the company's stock. According to MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $426.00.

Home Depot Stock Performance

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a fifty day moving average of $411.73 and a 200-day moving average of $379.79. The stock has a market capitalization of $391.21 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.93 and a beta of 1.03.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 business had revenue of $40.22 billion for 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 quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.81 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot's payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company's stock in a transaction on 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 transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated 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 sale, the executive vice president now owns 12,465 shares of the company's stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock worth $15,624,585. Corporate insiders own 0.10% of the company's stock.

Institutional Trading of Home Depot

Several institutional investors have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the second quarter worth $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the second quarter valued at about $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter worth about $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter worth about $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot in the third quarter valued at about $46,000. 70.86% of the stock is owned by hedge funds and other 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.