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Home Depot Stock Falls after Telsey Advisory Group’s Downgrade

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Feb. 27 2019, Published 1:22 p.m. ET

Telsey’s downgrade

Today, Telsey Advisory Group downgraded Home Depot (HD) from “outperform” to “market perform,” and cut its 12-month price target to $192 from $205. The new price target represents an upside potential of 2.0% from Home Depot’s February 26 closing price of $188.03. The downgrade appears to have led to a fall in Home Depot’s stock price. Today, at 12:50 PM ET, Home Depot was trading ~2.0% lower.

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Other analysts’ recommendations

Home Depot posted its fourth-quarter earnings on February 26. You can read our analysis of Home Depot’s fourth-quarter performance at in Home Depot: Key Takeaways from Its Q4 Earnings.

Since the announcement of its fourth-quarter earnings, SunTrust Robinson, Credit Suisse, and Jefferies have all lowered their price targets. SunTrust Robinson has lowered its price target from $187 to $180, Credit Suisse has cut its price target from $194 to $192, and Jefferies has reduced its price target from $228 to $218.

However, RBC and UBS have raised their price targets. RBC has increased its price target from $196 to $203, and UBS has raised its price target from $200 to $215.

Of the 33 analysts who follow Home Depot, 66.7% have given the stock a “buy” rating while 33.3% have recommended a “hold” recommendation. None of the analysts favor a “sell” rating. On average, analysts have a 12-month target price of $203.32, which represents an upside potential of 8.0% from the closing price of $188.03 on February 26.

Peer comparisons

Among the 31 analysts who follow Lowe’s (LOW) stock, 67.7% recommended a “buy” while 32.3% recommended a “hold.” On average, analysts have a 12-month target price of $111.11 on the stock, which represents a potential return of 5.8% from its price of $105.03.

Among the 23 analysts who follow Williams-Sonoma (WSM), 4.3% recommend a “buy,” 73.9% recommend a “hold,” and 21.7% recommend a “sell.” On average, analysts have a 12-month target price of $54.69 on the stock, which represents a fall of 3.9% from its stock price of $56.89.

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