HD Supply (NASDAQ:HDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $43.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.61% from the stock’s previous close.
According to Zacks, “HD Supply Holdings, Inc. is engaged in industrial distribution primarily in North America. It operates in four segments: Facilities Maintenance, Waterworks, Power Solutions and White Cap. Facilities Maintenance distributes maintenance, repair and operations products, provides value-add services and fabricates custom products to multifamily, hospitality, healthcare and institutional facilities. Waterworks distributes complete lines of water and wastewater transmission products, serving contractors and municipalities. Power Solutions distributes electrical transmission and distribution products, power plant MRO supplies and smart-grid products, arranges materials management and procurement outsourcing for the power generation and distribution industries. White Cap distributes specialized hardware, tools, engineered materials and safety products to non-residential and residential contractors. HD Supply Holdings, Inc. is based in Atlanta, Georgia. “
Several other analysts also recently commented on HDS. Credit Suisse Group downgraded shares of HD Supply from an “outperform” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Friday, September 8th. Royal Bank Of Canada boosted their target price on shares of HD Supply from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. BidaskClub downgraded shares of HD Supply from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $38.00 target price on shares of HD Supply in a research report on Monday, October 9th. Finally, SunTrust Banks reissued a “hold” rating and issued a $35.00 target price on shares of HD Supply in a research report on Friday, November 10th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. HD Supply has an average rating of “Hold” and an average target price of $38.85.
HD Supply (NASDAQ:HDS) traded up $0.59 during mid-day trading on Thursday, hitting $39.23. 2,775,308 shares of the stock were exchanged, compared to its average volume of 2,721,319. HD Supply has a twelve month low of $28.97 and a twelve month high of $44.73. The company has a debt-to-equity ratio of 3.57, a current ratio of 2.04 and a quick ratio of 1.41. The firm has a market capitalization of $7,204.31, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.86 and a beta of 1.40.
HD Supply (NASDAQ:HDS) last released its quarterly earnings results on Tuesday, December 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. HD Supply had a net margin of 16.55% and a return on equity of 46.02%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. equities research analysts predict that HD Supply will post 2.25 EPS for the current fiscal year.
HD Supply announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 29th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of the business. California Public Employees Retirement System raised its stake in shares of HD Supply by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 445,211 shares of the industrial products company’s stock valued at $16,059,000 after buying an additional 20,211 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new position in shares of HD Supply in the 3rd quarter valued at $12,625,000. Point72 Asset Management L.P. raised its stake in shares of HD Supply by 894.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 619,603 shares of the industrial products company’s stock valued at $22,349,000 after buying an additional 557,303 shares in the last quarter. Cowen Inc. acquired a new position in shares of HD Supply in the 3rd quarter valued at $4,639,000. Finally, Marathon Partners Equity Management LLC raised its stake in shares of HD Supply by 289.0% in the 3rd quarter. Marathon Partners Equity Management LLC now owns 710,000 shares of the industrial products company’s stock valued at $25,610,000 after buying an additional 527,500 shares in the last quarter.
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About HD Supply
HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, Construction & Industrial-White Cap, and Corporate. As of January 29, 2017, the Company operated through approximately 500 locations across 48 states in the United States and six Canadian provinces.
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