Truist Financial Cuts Home Depot (NYSE:HD) Price Target to $394.00

Key Points

• Truist Financial cut its price target on Home Depot from $424 to $394, while keeping a buy rating. The new target still implies about 29.5% upside from the current share price.
• Home Depot shares were down 2.0% in midday trading at $304.34, near the stock’s 52-week low of $303.51. The stock has also been moving below both its 50-day and 200-day averages.
• Recent earnings showed Home Depot beat EPS and revenue expectations, but sales were still down 3.8% year over year. Analysts remain mixed overall, with a consensus rating of Moderate Buy and an average target price of $408.10.

Home Depot (NYSE:HD - Get Free Report) had its price objective decreased by equities research analysts at Truist Financial from $424.00 to $394.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm currently has a "buy" rating on the home improvement retailer's stock. Truist Financial's price objective points to a potential upside of 29.46% from the company's current price.

HD has been the topic of several other reports. Daiwa Securities Group raised their target price on shares of Home Depot from $360.00 to $390.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Wolfe Research increased their target price on shares of Home Depot from $413.00 to $414.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. UBS Group restated an "outperform" rating on shares of Home Depot in a report on Tuesday, March 24th. Wall Street Zen lowered shares of Home Depot from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Citigroup dropped their price target on Home Depot from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday. Twenty analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $408.10.

Home Depot Stock Down 2.0%

Shares of HD traded down $6.12 during midday trading on Wednesday, hitting $304.34. The company had a trading volume of 579,562 shares, compared to its average volume of 4,152,035. 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 has a 52 week low of $303.51 and a 52 week high of $426.75. The company's 50 day moving average price is $335.81 and its 200 day moving average price is $355.95. The stock has a market cap of $303.13 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The company had revenue of $38.20 billion for the quarter, compared to the consensus estimate of $38.01 billion. During the same period last year, the firm posted $3.13 EPS. The company's revenue for the quarter was down 3.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, equities research analysts predict that Home Depot will post 15.03 EPS for the current year.

Insider Buying and Selling

In related news, CFO Richard V. Mcphail sold 2,550 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the sale, the chief financial officer directly owned 44,566 shares in the company, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after purchasing an additional 1,325,748 shares during the last quarter. State Street Corp increased its holdings in shares of Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock worth $16,147,010,000 after purchasing an additional 825,164 shares during the period. Geode Capital Management LLC raised its position in shares of Home Depot by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock valued at $8,151,344,000 after buying an additional 343,153 shares during the last quarter. Bank of America Corp DE raised its position in shares of Home Depot by 5.6% during the fourth quarter. Bank of America Corp DE now owns 16,063,532 shares of the home improvement retailer's stock valued at $5,527,461,000 after buying an additional 851,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Home Depot by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer's stock valued at $5,323,620,000 after buying an additional 1,113,114 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

More Home Depot News

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

• Positive Sentiment: J.P. Morgan reiterated a Buy rating, citing resilient spring demand, strength with professional customers, and improving big-ticket sales momentum, which supports the bullish case for Home Depot. Article Title
• Positive Sentiment: Home Depot was included in lists of blue-chip dividend stocks and stocks that could benefit if inflation cools, reinforcing its appeal as a defensive, income-oriented name. Article Title
• Neutral Sentiment: Market commentary suggested investors are reconsidering whether HD is now attractive after recent share-price weakness, but the article framed this as a valuation debate rather than a clear catalyst. Article Title
• Neutral Sentiment: SRS Distribution completed its acquisition of HVAC distributor Mingledorff’s, expanding Home Depot’s pro-oriented distribution footprint, though the immediate stock reaction appeared limited. Article Title
• Negative Sentiment: Analysts expect a decline in upcoming earnings, adding pressure to sentiment ahead of future results and reinforcing concerns that demand remains uneven. Article Title
• Negative Sentiment: Broader market commentary flagged Home Depot as vulnerable to higher rates and weaker discretionary spending, with investors postponing big-ticket home projects. Article Title

Home Depot Company Profile

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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