HD Supply (HDS) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of HD Supply (NASDAQ:HDS) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $49.00 price target on the industrial products company’s stock.
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 analysts have also recently weighed in on the company. BidaskClub cut HD Supply from a buy rating to a hold rating in a research report on Wednesday, May 15th. Royal Bank of Canada lifted their price target on HD Supply from $43.00 to $44.00 and gave the company a sector perform rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded HD Supply from a neutral rating to an outperform rating and set a $39.96 price target for the company in a research report on Friday, January 25th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. HD Supply currently has a consensus rating of Buy and an average target price of $47.00.
HD Supply (NASDAQ:HDS) last announced its quarterly earnings results on Monday, March 18th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.42 billion. HD Supply had a return on equity of 41.40% and a net margin of 6.52%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, equities research analysts predict that HD Supply will post 3.69 earnings per share for the current year.
In related news, CFO Evan Levitt sold 1,500 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $44.70, for a total transaction of $67,050.00. Following the completion of the transaction, the chief financial officer now directly owns 35,961 shares in the company, valued at $1,607,456.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.89% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in HD Supply by 42.4% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 91,300 shares of the industrial products company’s stock worth $3,426,000 after buying an additional 27,200 shares in the last quarter. Paloma Partners Management Co bought a new stake in HD Supply during the fourth quarter worth about $251,000. Iridian Asset Management LLC CT lifted its stake in HD Supply by 15.5% during the first quarter. Iridian Asset Management LLC CT now owns 4,759,984 shares of the industrial products company’s stock worth $206,345,000 after purchasing an additional 639,764 shares during the last quarter. Legal & General Group Plc lifted its stake in HD Supply by 22.7% during the fourth quarter. Legal & General Group Plc now owns 334,144 shares of the industrial products company’s stock worth $12,537,000 after purchasing an additional 61,837 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in HD Supply by 4.5% during the fourth quarter. Prudential Financial Inc. now owns 13,030 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 559 shares during the last quarter. Institutional investors and hedge funds own 97.17% of the company’s stock.
About HD Supply
HD Supply Holdings, Inc operates as an industrial distributor in North America. It operates through two segments, Facilities Maintenance, and Construction & Industrial. The Facilities Maintenance segment offers electrical and lighting items, plumbing supplies, appliances, janitorial supplies, hardware products, kitchen and bath cabinets, window coverings, textiles and guest amenities, healthcare maintenance products, and water and wastewater treatment products, as well as heating, ventilating, and air conditioning products.
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