Home Depot (HD), Lowe's (LOW) Shares Fall Following Janney Downgrades

Shares of both Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) are under pressure Tuesday afternoon following downgrades from an analyst at Janney Capital earlier.

The firm now rates each stock a Neutral, down from Buy previously. Janney's target on Home Depot fell from $53 to $51, while the firm's target on Lowe's moved from $28 to $26.

Janney cited sales trends which have moderated and valuations which now appear to be full. The firm also said the uncertain macro landscape creates a perception these home-improvement retailers could miss earnings during the second half of this year. Janney noted disappointing retail sales data on Monday, saying the news "increased our fear as sales at building-materials and garden-supply dealers declined 1.6% from May."

Shares of Home Depot are now down 1.6 percent to $50.65; Lowe's shares are down 1.2 percent to $25.50.

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