Home Depot (NYSE:HD) Stock Price Up 1.7% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price shot up 1.7% on Wednesday . The company traded as high as $364.84 and last traded at $360.34. 1,003,341 shares traded 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.

Analysts Set New Price Targets

Several research firms recently weighed in on HD. Gordon Haskett cut shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. KGI Securities raised Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Truist Financial lowered their price objective on Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Robert W. Baird lowered their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Performance

The stock has a market cap of $355.49 billion, a P/E ratio of 24.29, 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 stock's 50 day simple moving average is $363.97 and its two-hundred day simple moving average is $392.23.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Large investors have recently bought and sold shares of the company. Asset Planning Services Inc. LA ADV grew its position in 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 in the last quarter. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC grew its holdings in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Finally, Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. 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.