HD Supply (HDS) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of HD Supply (NASDAQ:HDS) from a hold rating to a buy rating in a research report report published on Tuesday.

Other equities research analysts also recently issued research reports about the company. BidaskClub raised HD Supply from a hold rating to a buy rating in a report on Thursday, September 28th. Goldman Sachs Group reaffirmed a neutral rating and set a $35.00 target price on shares of HD Supply in a report on Wednesday, August 16th. Morgan Stanley reaffirmed an equal weight rating and set a $38.00 target price (up previously from $37.00) on shares of HD Supply in a report on Monday, October 2nd. Zacks Investment Research raised HD Supply from a hold rating to a buy rating and set a $35.00 target price for the company in a report on Friday, August 25th. Finally, Wells Fargo & Company lifted their target price on HD Supply from $40.00 to $42.00 and gave the stock an outperform rating in a report on Friday, October 6th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. HD Supply currently has a consensus rating of Hold and an average price target of $38.15.

HD Supply (NASDAQ HDS) traded up $2.31 on Tuesday, reaching $38.80. The company’s stock had a trading volume of 8,922,900 shares, compared to its average volume of 2,720,937. HD Supply has a 52 week low of $28.97 and a 52 week 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 stock has a market capitalization of $6,810.72, a price-to-earnings ratio of 14.37, a PEG ratio of 0.82 and a beta of 1.40.

HD Supply (NASDAQ:HDS) last issued its quarterly earnings results on Tuesday, December 5th. The industrial products company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.05. HD Supply had a return on equity of 49.76% and a net margin of 9.31%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. research analysts predict that HD Supply will post 2.21 earnings per share for the current fiscal year.

HD Supply announced that its board has approved a share buyback plan on Tuesday, August 29th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of HDS. Creative Planning increased its position in shares of HD Supply by 15.2% during the second quarter. Creative Planning now owns 3,800 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 500 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of HD Supply during the third quarter worth approximately $185,000. Barrett Asset Management LLC purchased a new stake in shares of HD Supply during the second quarter worth approximately $161,000. Pinebridge Investments L.P. increased its position in shares of HD Supply by 170.0% during the second quarter. Pinebridge Investments L.P. now owns 5,400 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of HD Supply during the second quarter worth approximately $181,000.

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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.

Analyst Recommendations for HD Supply (NASDAQ:HDS)

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