Home Depot (NYSE:HD) Stock Price Up 2% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) was up 2% during trading on Thursday . The company traded as high as $361.50 and last traded at $360.37. Approximately 808,632 shares changed hands during trading, a decline of 75% from the average daily volume of 3,191,238 shares. The stock had previously closed at $353.42.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HD shares. Piper Sandler lowered their price target on shares of Home Depot from $455.00 to $435.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Nine equities research 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $436.50.

Home Depot Trading Down 1.0 %

The business's fifty day simple moving average is $393.97 and its two-hundred day simple moving average is $398.90. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $349.78 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09.

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Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $39.70 billion during 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%. Home Depot's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.82 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.61%. Home Depot's payout ratio is 61.66%.

Institutional Investors Weigh In On Home Depot

Large investors have recently modified their holdings of the company. Prostatis Group LLC raised its holdings in shares of Home Depot by 4.5% in the fourth quarter. Prostatis Group LLC now owns 5,891 shares of the home improvement retailer's stock valued at $2,291,000 after buying an additional 255 shares during the last quarter. Nestegg Advisors Inc. purchased a new stake in Home Depot during the 4th quarter valued at approximately $665,000. M1 Capital Management LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $358,000. DSG Capital Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $3,133,000. Finally, Chancellor Financial Group WB LP acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $763,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.