Home Depot (NYSE:HD) Stock Price Up 1.4% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares shot up 1.4% during mid-day trading on Tuesday . The company traded as high as $354.00 and last traded at $346.22. 1,061,446 shares were traded during mid-day trading, a decline of 69% from the average session volume of 3,462,487 shares. The stock had previously closed at $341.51.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Truist Financial decreased their price target on Home Depot from $437.00 to $391.00 and set a "buy" rating on the stock in a research note on Tuesday. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

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Home Depot Trading Down 0.0 %

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 4.03 and a beta of 1.09. The business has a fifty day moving average price of $375.29 and a 200 day moving average price of $395.97.

Home Depot (NYSE:HD - Get Free Report) last released 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 company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $2.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently made changes to their positions in the business. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its stake in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock valued at $1,810,000 after acquiring an additional 24 shares during the period. Marino Stram & Associates LLC lifted its holdings in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after purchasing an additional 25 shares during the last quarter. Live Oak Private Wealth LLC lifted its holdings in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after purchasing an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC boosted its position in Home Depot by 4.0% during the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock worth $255,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds 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.