Zacks Investment Research Upgrades HD Supply Holdings, Inc. (HDS) to “Buy”
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 Monday. The firm currently has a $37.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.05% 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 recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $37.00 target price (up previously from $36.00) on shares of HD Supply Holdings in a research note on Friday. BidaskClub upgraded HD Supply Holdings from a “sell” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada boosted their target price on HD Supply Holdings from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $35.00 target price on shares of HD Supply Holdings in a research note on Wednesday, August 16th. Finally, Northcoast Research assumed coverage on HD Supply Holdings in a research note on Tuesday, July 25th. They issued a “neutral” rating for the company. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.62.
HD Supply Holdings (NASDAQ:HDS) traded down 0.84% during trading on Monday, hitting $33.02. 2,185,539 shares of the stock traded hands. The company has a market cap of $6.69 billion, a P/E ratio of 22.71 and a beta of 1.40. The company’s 50 day moving average price is $31.48 and its 200 day moving average price is $36.76. HD Supply Holdings has a 12 month low of $28.97 and a 12 month high of $44.73.
HD Supply Holdings (NASDAQ:HDS) last posted its earnings results on Tuesday, June 6th. The industrial products company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.02. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, equities research analysts anticipate that HD Supply Holdings will post $2.11 EPS for the current fiscal year.
HD Supply Holdings declared that its board has initiated a share buyback plan on Tuesday, June 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Several large investors have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. acquired a new position in shares of HD Supply Holdings in the second quarter valued at approximately $324,000. Toronto Dominion Bank acquired a new position in shares of HD Supply Holdings in the second quarter valued at approximately $298,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of HD Supply Holdings in the second quarter valued at approximately $573,000. BW Gestao de Investimentos Ltda. acquired a new position in shares of HD Supply Holdings in the second quarter valued at approximately $919,000. Finally, Piedmont Investment Advisors LLC increased its holdings in shares of HD Supply Holdings by 43.4% in the second quarter. Piedmont Investment Advisors LLC now owns 54,565 shares of the industrial products company’s stock valued at $1,671,000 after purchasing an additional 16,520 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.
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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