Home Depot (NYSE:HD) Trading Up 0.5% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) was up 0.5% during trading on Thursday . The company traded as high as $408.24 and last traded at $408.06. Approximately 451,248 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,026,910 shares. The stock had previously closed at $406.09.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial increased their price objective on Home Depot from $459.00 to $465.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Guggenheim upped 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. Piper Sandler raised their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Evercore ISI lifted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus target price of $426.00.

Home Depot Stock Performance

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 stock has a market cap of $406.44 billion, a P/E ratio of 27.79, a PEG ratio of 4.11 and a beta of 1.05. The stock has a fifty day simple moving average of $405.88 and a 200-day simple moving average of $386.65.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts' expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.81 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot's dividend payout ratio is presently 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of Home Depot 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 sale, the executive vice president now owns 12,465 shares of the company's stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company's stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company's stock.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial & Tax Architects LLC bought a new position in shares of Home Depot in the second quarter valued at about $413,000. Meridian Wealth Partners LLC raised its holdings in Home Depot by 0.8% in the 2nd quarter. Meridian Wealth Partners LLC now owns 6,372 shares of the home improvement retailer's stock valued at $2,194,000 after acquiring an additional 52 shares during the period. Purus Wealth Management LLC raised its holdings in Home Depot by 4.2% in the 2nd quarter. Purus Wealth Management LLC now owns 1,852 shares of the home improvement retailer's stock valued at $638,000 after acquiring an additional 75 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Home Depot by 3.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 345,978 shares of the home improvement retailer's stock worth $119,099,000 after acquiring an additional 12,682 shares during the last quarter. Finally, Argent Trust Co grew its position in shares of Home Depot by 1.2% in the second quarter. Argent Trust Co now owns 96,364 shares of the home improvement retailer's stock valued at $33,172,000 after purchasing an additional 1,168 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.

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