Home Depot (NYSE:HD) Shares Up 0.1% - Time to Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares rose 0.1% on Wednesday . The stock traded as high as $384.04 and last traded at $382.07. Approximately 565,071 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,247,554 shares. The stock had previously closed at $381.68.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Home Depot from $455.00 to $435.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. 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. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $436.50.

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Home Depot Stock Performance

The stock's 50 day simple moving average is $400.21 and its two-hundred day simple moving average is $399.81. 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 has a market cap of $374.16 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates 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 for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is currently 61.66%.

Institutional Trading of Home Depot

A number of institutional investors have recently made changes to their positions in HD. Vanguard Group Inc. increased its holdings in Home Depot by 0.9% during the fourth 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 increased its holdings in 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 buying an additional 257,036 shares during the last quarter. Norges Bank acquired a new position in Home Depot during the fourth quarter worth $5,032,910,000. Capital Research Global Investors increased its holdings in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

About Home Depot

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.