Home Depot (NYSE:HD) Stock Price Up 0.1% – Time to Buy?

by · The Cerbat Gem

The Home Depot, Inc. (NYSE:HD – Get Free Report)’s share price traded up 0.1% during mid-day trading on Thursday . The stock traded as high as $402.29 and last traded at $400.07. 430,394 shares were traded during mid-day trading, a decline of 87% from the average session volume of 3,360,017 shares. The stock had previously closed at $399.64.

Analyst Ratings Changes

A number of research firms have weighed in on HD. Royal Bank of Canada reduced their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 price objective on the stock. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $412.00.

View Our Latest Report on HD

Home Depot Stock Down 0.9 %

The company has a market cap of $396.29 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock’s fifty day moving average is $389.81 and its two-hundred day moving average is $359.98.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the business earned $4.65 EPS. The business’s revenue was up .6% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.26%. Home Depot’s dividend payout ratio is currently 60.57%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently made changes to their positions in the business. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares during the period. Empirical Finance LLC increased its position in shares of Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the period. Pegasus Asset Management Inc. lifted its holdings in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares in the last quarter. Commonwealth Retirement Investments LLC boosted its position in shares of Home Depot by 5.5% in the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after acquiring an additional 965 shares during the period. Finally, Swedbank AB increased its holdings in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. 70.86% of the stock is currently owned by institutional investors.

About Home Depot

(Get Free Report)

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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