HD Supply Holdings, Inc. (NASDAQ:HDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $35.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.04% 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 equities research analysts have also weighed in on HDS. Morgan Stanley lowered HD Supply Holdings from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $46.00 to $36.00 in a research report on Wednesday, June 7th. Drexel Hamilton lowered HD Supply Holdings from a “buy” rating to a “hold” rating and dropped their price target for the company from $50.00 to $37.00 in a research report on Wednesday, June 7th. Deutsche Bank AG lowered HD Supply Holdings from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research report on Friday, June 9th. ValuEngine lowered HD Supply Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, Longbow Research lowered HD Supply Holdings from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $38.50.
Shares of HD Supply Holdings (NASDAQ HDS) traded up 1.42% during mid-day trading on Friday, reaching $31.52. 1,713,643 shares of the company’s stock traded hands. The company has a 50 day moving average of $31.14 and a 200 day moving average of $37.15. HD Supply Holdings has a 12 month low of $28.97 and a 12 month high of $44.73. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 21.68 and a beta of 1.41.
HD Supply Holdings (NASDAQ:HDS) last issued its quarterly earnings data on Tuesday, June 6th. The industrial products company reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.86 billion. HD Supply Holdings had a return on equity of 58.13% and a net margin of 3.92%. HD Supply Holdings’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Analysts expect that HD Supply Holdings will post $2.10 earnings per share for the current fiscal year.
HD Supply Holdings declared that its board has authorized a stock buyback program on Tuesday, June 6th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently bought and sold shares of HDS. Alps Advisors Inc. boosted its position in HD Supply Holdings by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,673 shares of the industrial products company’s stock valued at $358,000 after buying an additional 30 shares in the last quarter. World Asset Management Inc boosted its position in HD Supply Holdings by 0.4% in the second quarter. World Asset Management Inc now owns 9,073 shares of the industrial products company’s stock valued at $278,000 after buying an additional 33 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in HD Supply Holdings by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,993 shares of the industrial products company’s stock valued at $123,000 after buying an additional 49 shares in the last quarter. Cadence Capital Management LLC boosted its position in HD Supply Holdings by 0.9% in the first quarter. Cadence Capital Management LLC now owns 6,096 shares of the industrial products company’s stock valued at $251,000 after buying an additional 53 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in HD Supply Holdings by 0.4% in the first quarter. Teacher Retirement System of Texas now owns 15,831 shares of the industrial products company’s stock valued at $651,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 97.32% of the company’s stock.
HD Supply Holdings Company Profile
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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