Home Depot (NYSE:HD) Trading 0.6% Higher - Should You Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded up 0.6% during mid-day trading on Thursday . The company traded as high as $359.76 and last traded at $358.42. 484,072 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 3,658,503 shares. The stock had previously closed at $356.42.

Analysts Set New Price Targets

A number of equities research analysts have commented on HD shares. Gordon Haskett downgraded shares of Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Wedbush restated an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective 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 research report on Monday, March 3rd. Finally, Royal Bank of Canada lowered their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Ten investment 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, the company has a consensus rating of "Moderate Buy" and an average price target of $434.08.

Home Depot Stock Down 0.6 %

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a 50-day simple moving average of $363.97 and a two-hundred day simple moving average of $392.40. The company has a market cap of $355.49 billion, a PE ratio of 24.29, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV increased its holdings in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter valued at about $5,032,910,000. GAMMA Investing LLC lifted its position in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $2,212,546,000. Finally, Proficio Capital Partners LLC grew its holdings in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.