Zacks Investment Research Downgrades HD Supply Holdings Inc. (HDS) to Hold
HD Supply Holdings Inc. (NASDAQ:HDS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
HDS has been the topic of several other reports. Macquarie started coverage on shares of HD Supply Holdings in a research note on Thursday, August 25th. They issued an “outperform” rating and a $42.00 price objective on the stock. Bank of America Corp. reissued a “buy” rating on shares of HD Supply Holdings in a research note on Wednesday, September 14th. Royal Bank Of Canada boosted their price objective on shares of HD Supply Holdings from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 25th. JPMorgan Chase & Co. dropped their price objective on shares of HD Supply Holdings from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, September 8th. Finally, RBC Capital Markets cut shares of HD Supply Holdings from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $43.00 to $35.00 in a research note on Tuesday, September 20th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $38.14.
Shares of HD Supply Holdings (NASDAQ:HDS) opened at 38.35 on Thursday. The firm has a market capitalization of $7.71 billion, a PE ratio of 6.41 and a beta of 1.29. The stock has a 50 day moving average of $33.44 and a 200-day moving average of $34.22. HD Supply Holdings has a 12 month low of $21.26 and a 12 month high of $38.73.
HD Supply Holdings (NASDAQ:HDS) last announced its earnings results on Wednesday, September 7th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by $0.03. The business earned $2 billion during the quarter, compared to analyst estimates of $2.03 billion. HD Supply Holdings had a net margin of 16.16% and a return on equity of 84.15%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. On average, equities research analysts anticipate that HD Supply Holdings will post $2.56 EPS for the current fiscal year.
In other news, Chairman Joseph J. Deangelo bought 32,100 shares of HD Supply Holdings stock in a transaction on Thursday, September 22nd. The shares were bought at an average cost of $31.07 per share, for a total transaction of $997,347.00. Following the acquisition, the chairman now owns 242,782 shares in the company, valued at $7,543,236.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in HD Supply Holdings by 13.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 47,539 shares of the company’s stock worth $1,520,000 after buying an additional 5,537 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in HD Supply Holdings during the third quarter worth approximately $282,000. Cornerstone Capital Management Holdings LLC. increased its position in HD Supply Holdings by 127.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 454,168 shares of the company’s stock worth $14,524,000 after buying an additional 254,817 shares in the last quarter. Verition Fund Management LLC increased its position in HD Supply Holdings by 27.8% in the third quarter. Verition Fund Management LLC now owns 49,234 shares of the company’s stock worth $1,575,000 after buying an additional 10,706 shares in the last quarter. Finally, Three Corner Global Investors LP increased its position in HD Supply Holdings by 31.5% in the third quarter. Three Corner Global Investors LP now owns 743,500 shares of the company’s stock worth $23,777,000 after buying an additional 178,000 shares in the last quarter. 94.77% of the stock is owned by institutional investors.
HD Supply Holdings Company Profile
HD Supply Holdings, Inc is an industrial distributor in North America. The Company provides a range of products and value-add services to approximately 500,000 customers in maintenance, repair and operations, water infrastructure and residential and non-residential construction sectors. The Company operates in three segments: Facilities Maintenance, Waterworks, and Construction & Industrial-White Cap.
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