Home Depot (NYSE:HD) Shares Up 1.7% - Should You Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares traded up 1.7% on Wednesday . The company traded as high as $364.84 and last traded at $360.34. 1,003,341 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 3,462,098 shares. The stock had previously closed at $354.43.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Truist Financial lowered their price target on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Trading Up 0.7 %

The company has a market cap of $354.68 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 50 day simple moving average of $366.92 and a 200 day simple moving average of $393.38.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company posted $2.82 EPS. Home Depot's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is 61.66%.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently bought and sold shares of HD. Vanguard Group Inc. lifted its stake in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Norges Bank acquired a new stake in Home Depot during the 4th quarter worth approximately $5,032,910,000. Finally, Capital Research Global Investors boosted its stake in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the period. Institutional investors and hedge funds 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.

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