Home Depot (NYSE:HD) Stock Price Up 1.4% – Time to Buy?

Home Depot (NYSE:HD) Stock Price Up 1.4% – Time to Buy?

The Home Depot, Inc. (NYSE:HD – Get Free Report)’s stock price rose 1.4% on Monday . The stock traded as high as $400.48 and last traded at $398.01. Approximately 584,449 shares were traded during trading, a decline of 83% from the average daily volume of 3,341,833 shares. The stock had previously closed at $392.59.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Jefferies Financial Group assumed coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. TD Cowen raised their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $413.48.

Home Depot Price Performance

The company’s 50 day moving average price is $392.51 and its 200-day moving average price is $362.03. The company has a market cap of $392.64 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.73 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The business’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.57%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently modified their holdings of the company. Abacus Wealth Partners LLC raised its position in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. lifted its holdings in shares of Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares in the last quarter. Acorn Creek Capital LLC lifted its holdings in shares of Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp lifted its holdings in shares of Home Depot by 1.9% during the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

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.

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