Home Depot (NYSE:HD) Trading Up 0.1% - Still a Buy?

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) rose 0.1% during mid-day trading on Tuesday . The company traded as high as $361.44 and last traded at $357.63. Approximately 534,796 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,475,758 shares. The stock had previously closed at $357.20.

Analyst Ratings Changes

A number of equities analysts recently commented on HD shares. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Gordon Haskett lowered shares of Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Price Performance

The stock's 50 day moving average is $369.30 and its two-hundred day moving average is $394.32. The stock has a market capitalization of $352.73 billion, a PE ratio of 24.11, 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.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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. 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 company's revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter valued at $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the period. Hedge funds and other 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.