Home Depot (NYSE:HD) Shares Up 2.5% - Should You Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report) was up 2.5% during mid-day trading on Thursday . The stock traded as high as $353.61 and last traded at $354.51. Approximately 824,392 shares traded hands during trading, a decline of 78% from the average daily volume of 3,679,958 shares. The stock had previously closed at $345.99.

Analyst Ratings Changes

Several research analysts have recently weighed in on HD shares. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Gordon Haskett lowered Home Depot from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Truist Financial dropped their price objective on shares of Home Depot from $437.00 to $391.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $434.08.

Home Depot Price Performance

The stock has a market cap of $344.96 billion, a PE ratio of 23.58, a PEG ratio of 4.03 and a beta of 1.09. The company has a 50-day simple moving average of $369.30 and a 200-day simple moving average of $394.08. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.65%. Home Depot's dividend payout ratio is 61.66%.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of Home Depot by 10.7% during the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after buying an additional 141,915 shares in the last quarter. Morse Asset Management Inc raised its holdings in Home Depot by 12.9% in the 3rd quarter. Morse Asset Management Inc now owns 30,497 shares of the home improvement retailer's stock valued at $12,357,000 after acquiring an additional 3,493 shares during the last quarter. Invst LLC raised its holdings in Home Depot by 1.7% in the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer's stock valued at $2,719,000 after acquiring an additional 115 shares during the last quarter. McIlrath & Eck LLC lifted its stake in shares of Home Depot by 4.5% during the 3rd quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer's stock worth $1,089,000 after purchasing an additional 115 shares during the period. Finally, Tudor Financial Inc. purchased a new stake in shares of Home Depot in the third quarter valued at $1,027,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.