Home Depot (HD) Stock Forecast & Price Target

$408.36

-3.22 (-0.78%)

(As of 10/4/2024 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 29 Analyst Ratings

Sell
1

Hold
7

Buy
21

Based on 29 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 29 analysts, 1 has given a sell rating, 7 have given a hold rating, and 21 have given a buy rating for HD.

Consensus Price Target

$398.54
-2.41% Downside

According to the 29 analysts' twelve-month price targets for Home Depot, the average price target is $398.54. The highest price target for HD is $455.00, while the lowest price target for HD is $318.00. The average price target represents a forecasted downside of -2.41% from the current price of $408.36.

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HD Analyst Ratings Over Time

Type	Current Forecast 10/7/23 to 10/6/24	1 Month Ago 9/7/23 to 9/6/24	3 Months Ago 7/9/23 to 7/8/24	1 Year Ago 10/7/22 to 10/7/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	21 Buy rating(s)	19 Buy rating(s)	20 Buy rating(s)	15 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	7 Hold rating(s)	14 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$398.54	$387.79	$378.42	$339.27
Forecasted Upside	-2.41% Downside	7.69% Upside	11.43% Upside	15.86% 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	2.69	2.52	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	-2.41% Downside	35.76% Upside	7.04% 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
10/4/2024	Guggenheim 3 of 5 stars		Boost Target	Buy ➝ Buy	$390.00 ➝ $450.00	+10.45%
10/2/2024	Gordon Haskett 4 of 5 stars	C. Grom Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Accumulate ➝ Buy	$450.00	+9.97%
9/30/2024	Piper Sandler 2 of 5 stars		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%
9/17/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$330.00 ➝ $360.00	-5.76%
Get the Latest News and Ratings for HD and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Home Depot and its competitors with MarketBeat's FREE daily newsletter.
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	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$396.00 ➝ $395.00	+10.75%
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%
11/15/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$350.00 ➝ $335.00	+9.42%
8/16/2023	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform ➝ Market Perform	$314.00 ➝ $328.00	-1.19%
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%
10/19/2022	Exane BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	Chris Bottiglieri Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Neutral	$286.00	+2.01%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 10:01 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 Sunday, September 29, 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 consistently increasing, reaching $391.96 on the latest trading day, showing positive momentum.
Home Depot has a strong track record of dividend payments, offering a $2.25 per share quarterly dividend, providing investors with a steady income stream.
Analysts have given Home Depot a "Moderate Buy" rating with an average price target of $389.04, indicating positive sentiment towards the stock.
Home Depot's revenue for the latest quarter was $43.18 billion, surpassing analyst estimates, showcasing strong financial performance.
With a market capitalization of $388.67 billion, Home Depot is a large and stable company, providing investors with a sense of security.

Home Depot
Bear Case

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

Home Depot's debt-to-equity ratio is high at 11.74, indicating a significant level of debt that could pose risks in the future.
While the stock has a strong performance history, there is always a risk of market volatility affecting Home Depot's stock price unpredictably.
Home Depot's quick ratio of 0.33 may raise concerns about its ability to meet short-term obligations efficiently.
The company's PE ratio of 26.29 suggests that the stock may be slightly overvalued compared to industry peers, potentially limiting upside potential.
Investors should consider the current economic climate and potential impact on the home improvement sector before making investment decisions related to Home Depot.

HD Forecast - Frequently Asked Questions

: According to the research reports of 29 Wall Street equities research analysts, the average twelve-month stock price forecast for Home Depot is $398.54, with a high forecast of $455.00 and a low forecast of $318.00.
: 29 Wall Street equities research 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 21 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" HD shares.
: According to analysts, Home Depot's stock has a predicted downside of -2.41% based on their 12-month stock forecasts.
: Over the previous 90 days, Home Depot's stock had 2 upgrades by analysts.
: Home Depot has been rated by research analysts at DA Davidson, Daiwa America, Evercore ISI, Gordon Haskett, Guggenheim, Jefferies Financial Group, JPMorgan Chase & Co., Loop Capital, Melius Research, Oppenheimer, Piper Sandler, Royal Bank of Canada, 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 score for Home Depot is 2.69 while the average consensus rating score for "retail/wholesale" companies is 2.52. Learn more on how HD compares to other companies.