Home Depot (HD) Stock Forecast & Price Target

$401.85

-4.55 (-1.12%)

(As of 10/22/2024 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
7

Buy
22

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, 7 have given a hold rating, and 22 have given a buy rating for HD.

Consensus Price Target

$410.67
2.19% Upside

According to the 30 analysts' twelve-month price targets for Home Depot, the average price target is $410.67. The highest price target for HD is $460.00, while the lowest price target for HD is $318.00. The average price target represents a forecasted upside of 2.19% from the current price of $401.85.

HD Analyst Ratings Over Time

Type	Current Forecast 10/24/23 to 10/23/24	1 Month Ago 9/24/23 to 9/23/24	3 Months Ago 7/26/23 to 7/25/24	1 Year Ago 10/24/22 to 10/24/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	22 Buy rating(s)	20 Buy rating(s)	20 Buy rating(s)	15 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	7 Hold rating(s)	12 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$410.67	$390.28	$380.58	$343.07
Forecasted Upside	2.19% Upside	-0.43% Downside	7.72% Upside	21.09% 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	2.70	2.49	2.50
Consensus Rating	Moderate Buy	Hold	Hold
Predicted Upside	2.19% Upside	35.54% Upside	7.93% Upside
News Sentiment Rating	Positive News See Recent HD News	Neutral 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
10/22/2024	Sanford C. Bernstein 3 of 5 stars		Initiated Coverage	Market Perform	$451.00	+10.94%
10/21/2024	Morgan Stanley 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$380.00 ➝ $450.00	+10.88%
10/14/2024	Truist Financial 2 of 5 stars		Boost Target	Buy ➝ Buy	$395.00 ➝ $455.00	+10.49%
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%
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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%
9/12/2024	Telsey Advisory Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Perform ➝ Market Perform	$360.00 ➝ $360.00	-2.83%
9/3/2024	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	$395.00 ➝ $430.00	+17.28%
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	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform ➝ Sector Perform	$377.00 ➝ $363.00	+1.60%
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%
8/14/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$380.00 ➝ $375.00	+7.12%
8/14/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$415.00 ➝ $400.00	+14.26%
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	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$440.00 ➝ $420.00	+20.21%
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%
5/9/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$425.00 ➝ $400.00	+16.04%
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
4/1/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$400.00 ➝ $425.00	+10.79%
3/19/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$415.00	+11.59%
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%
1/4/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight	$325.00 ➝ $372.00	+10.01%
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%
11/9/2022	MKM Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating	David Bellinger Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		$330.00 ➝ $312.00	+6.89%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 05:29 AM 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 Friday, October 18, 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's stock price has been showing an upward trend, reaching $414.23 on the latest trading day, indicating positive momentum.
Strong financial performance with a return on equity of 681.27% and a net margin of 9.71%, showcasing profitability.
Consistent dividend payments with a dividend yield of 2.20%, providing investors with a steady income stream.
Favorable analyst ratings, with a majority of analysts assigning a buy rating to the stock, indicating confidence in its future growth potential.
Market consensus rating of "Moderate Buy" and an average price target of $402.38, suggesting positive sentiment among analysts and potential for price appreciation.

Home Depot
Bear Case

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

Debt-to-equity ratio of 11.74, indicating a relatively high level of debt that may pose risks in case of economic downturns or interest rate fluctuations.
Market volatility and economic uncertainties could impact the home improvement sector, affecting Home Depot's stock performance.
Competition from other retailers and online platforms in the home improvement industry may challenge Home Depot's market share and growth prospects.
Potential regulatory changes or legal issues could impact the company's operations and financial results, leading to uncertainties for investors.
Any adverse changes in consumer spending patterns or housing market conditions could affect Home Depot's sales and profitability, influencing investor returns.

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 $410.67, with a high forecast of $460.00 and a low forecast of $318.00.
: 30 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Home Depot in the last year. There is currently 1 sell rating, 7 hold ratings and 22 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" HD shares.
: According to analysts, Home Depot's stock has a predicted upside of 2.19% 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 DA Davidson, Daiwa America, Evercore ISI, Gordon Haskett, Guggenheim, JPMorgan Chase & Co., Loop Capital, Melius Research, Morgan Stanley, Oppenheimer, Piper Sandler, Royal Bank of Canada, Sanford C. Bernstein, Stifel Nicolaus, Telsey Advisory Group, Truist Financial, and UBS Group in the past 90 days.
: Analysts like Home Depot more than other "retail/wholesale" companies. The consensus rating for Home Depot is Moderate Buy while the average consensus rating for "retail/wholesale" companies is Hold. Learn more on how HD compares to other companies.

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This page (NYSE:HD) was last updated on 10/23/2024 by MarketBeat.com Staff

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Home Depot (HD) Stock Forecast & Price Target