Home Depot (HD) Stock Forecast & Price Target

$427.19 -0.08 (-0.02%)

(As of 11/27/2024 ET)

Home Depot - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 30 Analyst Ratings

Sell
1

Hold
6

Buy
23

Based on 30 Wall Street analysts who have issued ratings for Home Depot in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 30 analysts, 1 has given a sell rating, 6 have given a hold rating, and 23 have given a buy rating for HD.

Consensus Price Target

$426.00
-0.28% Downside

According to the 30 analysts' twelve-month price targets for Home Depot, the average price target is $426.00. The highest price target for HD is $466.00, while the lowest price target for HD is $318.00. The average price target represents a forecasted downside of -0.28% from the current price of $427.19.

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HD Analyst Ratings Over Time

Type	Current Forecast 11/29/23 to 11/28/24	1 Month Ago 10/30/23 to 10/29/24	3 Months Ago 8/31/23 to 8/30/24	1 Year Ago 11/29/22 to 11/29/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	23 Buy rating(s)	22 Buy rating(s)	19 Buy rating(s)	15 Buy rating(s)
Hold	6 Hold rating(s)	7 Hold rating(s)	7 Hold rating(s)	11 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$426.00	$413.48	$386.33	$339.57
Forecasted Upside	-0.28% Downside	4.65% Upside	4.82% Upside	9.18% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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HD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

HD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Home Depot Stock vs. The Competition

Type	Home Depot	Retail/Wholesale Companies	S&P 500
Consensus Rating Score	2.73	2.51	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	-0.31% Downside	22.54% Upside	6.73% Upside
News Sentiment Rating	Positive News See Recent HD News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/13/2024	Truist Financial 2 of 5 stars		Boost Target	Buy ➝ Buy	$459.00 ➝ $465.00	+13.51%
11/13/2024	Evercore ISI 2 of 5 stars		Boost Target	Outperform ➝ Outperform	$420.00 ➝ $430.00	+4.75%
11/13/2024	Bank of America 4 of 5 stars		Boost Target	Buy ➝ Buy	$425.00 ➝ $450.00	+11.62%
11/13/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$435.00 ➝ $440.00	+9.14%
11/11/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform ➝ Sector Perform	$363.00 ➝ $413.00	+0.57%
11/11/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$375.00 ➝ $400.00	-2.71%
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11/8/2024	Telsey Advisory Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Feldman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Market Perform ➝ Outperform	$360.00 ➝ $455.00	+13.92%
11/6/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$400.00 ➝ $430.00	+10.61%
11/5/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$372.00 ➝ $420.00	+6.18%
10/28/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$440.00 ➝ $460.00	+14.93%
10/25/2024	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Baker Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$430.00 ➝ $466.00	+16.35%
10/22/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating	Z. Ma Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Market Perform	$451.00	+10.94%
10/21/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$380.00 ➝ $450.00	+10.88%
10/9/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	L. Champine Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$360.00 ➝ $460.00	+11.05%
10/4/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$390.00 ➝ $450.00	+10.45%
10/2/2024	Gordon Haskett Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Grom Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Accumulate ➝ Buy	$450.00	+9.97%
9/30/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$387.00 ➝ $455.00	+13.82%
9/24/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform ➝ Market Perform	$345.00 ➝ $400.00	+2.05%
9/23/2024	Melius Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	K. Short Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$420.00	+7.42%
8/15/2024	Daiwa America Subscribe to MarketBeat All Access for the recommendation accuracy rating	K. Tamada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
8/14/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$400.00 ➝ $425.00	+21.40%
8/5/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$377.00 ➝ $400.00	+12.54%
7/16/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$426.00	+15.41%
5/15/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Reduce ➝ Reduce	$323.00 ➝ $318.00	-8.98%
5/15/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Perform ➝ Market Perform
5/10/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Basham Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform ➝ Outperform	$410.00	+18.06%
5/7/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$415.00 ➝ $395.00	+15.86%
4/2/2024	Zelman & Associates Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform
2/14/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Average ➝ Outperform	$370.00	+3.38%
2/13/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$347.00 ➝ $393.00	+9.68%
7/26/2023	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	$400.00 ➝ $350.00	+6.44%
5/17/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$320.00 ➝ $310.00	+9.80%
2/22/2023	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$312.00 ➝ $292.00	-2.00%
2/22/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$379.00 ➝ $360.00	+21.06%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 01:46 PM ET.

Should I Buy Home Depot Stock? HD Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, November 21, 2024. Please send any questions or comments about these Home Depot pros and cons to contact@marketbeat.com.

Home Depot
Bull Case

Here are some ways that investors could benefit from investing in Home Depot:

Home Depot reported a strong quarterly revenue of $40.22 billion, exceeding analyst estimates of $39.31 billion, indicating robust demand and operational efficiency.
The company has a high return on equity of 452.60%, suggesting effective management and a strong ability to generate profits from shareholders' equity.
Home Depot recently announced a quarterly dividend of $2.25 per share, translating to an annualized dividend of $9.00 and a yield of 2.25%, providing a steady income stream for investors.
Analysts have a positive outlook on Home Depot, with an average target price of $426.00 and 23 buy ratings, indicating strong confidence in the stock's future performance.
The current stock price is $402.76, which is near its 52-week high of $421.56, suggesting that the stock is performing well and may continue to appreciate in value.

Home Depot
Bear Case

Investors should be bearish about investing in Home Depot for these reasons:

Home Depot's high debt-to-equity ratio of 8.65 indicates significant leverage, which could pose risks during economic downturns or rising interest rates.
Insider selling has been observed, with executives selling substantial shares, which may signal a lack of confidence in the company's short-term prospects.
The company's quick ratio of 0.31 suggests potential liquidity issues, as it indicates that Home Depot may struggle to meet short-term obligations without additional financing.
Despite a strong revenue increase of 6.6% year-over-year, the net margin of 9.45% may indicate that profit growth is not keeping pace with revenue growth, which could affect overall profitability.
One analyst has rated the stock with a sell rating, which could reflect concerns about the stock's valuation or market conditions that may impact future performance.

HD Forecast - Frequently Asked Questions

: According to the research reports of 30 Wall Street equities research analysts, the average twelve-month stock price forecast for Home Depot is $426.00, with a high forecast of $466.00 and a low forecast of $318.00.
: 30 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Home Depot in the last year. There is currently 1 sell rating, 6 hold ratings and 23 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" HD shares.
: According to analysts, Home Depot's stock has a predicted downside of -0.28% based on their 12-month stock forecasts.
: Over the previous 90 days, Home Depot's stock had 3 upgrades by analysts.
: Home Depot has been rated by research analysts at Bank of America, Barclays, DA Davidson, Evercore ISI, Gordon Haskett, Guggenheim, Loop Capital, Melius Research, Mizuho, Morgan Stanley, Oppenheimer, Piper Sandler, Royal Bank of Canada, Sanford C. Bernstein, Stifel Nicolaus, TD Cowen, Telsey Advisory Group, Truist Financial, and Wells Fargo & Company in the past 90 days.
: Analysts like Home Depot more than other "retail/wholesale" companies. The consensus rating score for Home Depot is 2.73 while the average consensus rating score for "retail/wholesale" companies is 2.51. Learn more on how HD compares to other companies.

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This page (NYSE:HD) was last updated on 11/28/2024 by MarketBeat.com Staff

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Home Depot (HD) Stock Forecast & Price Target