Robert W. Baird Cuts Home Depot (NYSE:HD) Price Target to $380.00

Key Points

• Robert W. Baird cut its price target on Home Depot to $380 from $430, while keeping an outperform rating. The new target still implies about 25.7% upside from the stock’s current price.
• Home Depot recently beat first-quarter expectations, reporting EPS of $3.43 on revenue of $41.77 billion, with revenue up 4.8% year over year. The company also reaffirmed FY2026 guidance, which helped ease concerns about a weaker macro backdrop.
• Analyst sentiment remains generally positive despite multiple target cuts, with 20 Buy ratings, 12 Holds, and 1 Sell. The consensus view is Moderate Buy, and the average price target is $388.48.

Home Depot (NYSE:HD - Get Free Report) had its price objective decreased by equities research analysts at Robert W. Baird from $430.00 to $380.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the home improvement retailer's stock. Robert W. Baird's price objective points to a potential upside of 25.73% from the stock's current price.

HD has been the subject of several other reports. DA Davidson set a $377.00 target price on Home Depot in a report on Tuesday. Truist Financial set a $369.00 target price on Home Depot in a research note on Tuesday. KeyCorp restated a "sector weight" rating on shares of Home Depot in a research report on Wednesday, February 25th. Jefferies Financial Group reduced their price target on shares of Home Depot from $454.00 to $361.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of Home Depot from $420.00 to $375.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Twenty analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $388.48.

Home Depot Stock Performance

Shares of Home Depot stock opened at $302.23 on Wednesday. The company has a market cap of $301.03 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 3.46 and a beta of 1.00. Home Depot has a 52 week low of $289.10 and a 52 week high of $426.75. The business has a 50 day moving average price of $329.41 and a 200-day moving average price of $353.04. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 3.62.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.02. The company had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.Home Depot's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts anticipate that Home Depot will post 15.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 2,550 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total transaction of $940,669.50. Following the completion of the transaction, the chief financial officer directly owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. This represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently bought and sold shares of HD. Silphium Asset Management Ltd boosted its stake in Home Depot by 77.2% during the third quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer's stock valued at $5,488,000 after buying an additional 5,900 shares during the period. Truist Financial Corp raised its position in Home Depot by 0.3% during the third quarter. Truist Financial Corp now owns 1,095,113 shares of the home improvement retailer's stock valued at $443,729,000 after purchasing an additional 3,608 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in Home Depot by 59.9% during the third quarter. Atlantic Union Bankshares Corp now owns 107,438 shares of the home improvement retailer's stock valued at $43,533,000 after purchasing an additional 40,232 shares in the last quarter. Carnegie Investment Counsel raised its position in Home Depot by 24.8% during the fourth quarter. Carnegie Investment Counsel now owns 108,306 shares of the home improvement retailer's stock valued at $37,268,000 after purchasing an additional 21,545 shares in the last quarter. Finally, Savvy Advisors Inc. raised its position in Home Depot by 36.0% during the fourth quarter. Savvy Advisors Inc. now owns 19,478 shares of the home improvement retailer's stock valued at $6,703,000 after purchasing an additional 5,152 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

More Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Home Depot beat first-quarter expectations, posting EPS of $3.43 on revenue of $41.77 billion, while revenue rose 4.8% year over year and comparable sales increased 0.6%. Reuters article
• Positive Sentiment: The company reaffirmed full-year fiscal 2026 guidance, easing investor concerns that macro weakness would force a cut to its outlook. PR Newswire article
• Positive Sentiment: Management said Pro customer demand, digital growth, and distribution expansion are helping offset softness in larger home-improvement projects. Zacks article

About Home Depot

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

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