Home Depot (NYSE:HD) Stock Price Up 0.6% - Should You Buy?

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) shot up 0.6% during mid-day trading on Thursday . The company traded as high as $417.23 and last traded at $416.10. Approximately 479,704 shares were traded during trading, a decline of 84% from the average session volume of 3,056,243 shares. The stock had previously closed at $413.42.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HD. Loop Capital upgraded Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They set a "market perform" rating and a $451.00 price objective on the stock. Finally, Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $426.00.

Home Depot Stock Up 0.3 %

The business has a 50-day moving average price of $407.93 and a 200-day moving average price of $391.93. The stock has a market cap of $411.81 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion during 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 revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.81 earnings per share. As a group, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot's dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares of the company's stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Centerpoint Advisory Group purchased a new stake in shares of Home Depot in the fourth quarter valued at about $1,175,000. Legacy Capital Wealth Partners LLC lifted its position in shares of Home Depot by 6.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 3,466 shares of the home improvement retailer's stock valued at $1,348,000 after acquiring an additional 224 shares during the period. Everhart Financial Group Inc. grew its holdings in shares of Home Depot by 6.6% in the 4th quarter. Everhart Financial Group Inc. now owns 5,378 shares of the home improvement retailer's stock worth $2,092,000 after acquiring an additional 332 shares during the period. TigerOak Management L.L.C. purchased a new position in Home Depot in the 4th quarter valued at approximately $1,567,000. Finally, Compton Financial Group LLC raised its holdings in Home Depot by 29.5% during the fourth quarter. Compton Financial Group LLC now owns 961 shares of the home improvement retailer's stock worth $374,000 after purchasing an additional 219 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.

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