Royal Bank of Canada Downgrades HD Supply (NASDAQ:HDS) to Sector Perform

Royal Bank of Canada downgraded shares of HD Supply (NASDAQ:HDS) from an outperform rating to a sector perform rating in a research note released on Wednesday, January 3rd, Marketbeat.com reports.

Several other research firms have also weighed in on HDS. BidaskClub upgraded shares of HD Supply from a hold rating to a buy rating in a research note on Tuesday, December 26th. Zacks Investment Research lowered shares of HD Supply from a buy rating to a hold rating in a research note on Friday, December 8th. ValuEngine upgraded shares of HD Supply from a hold rating to a buy rating in a research note on Tuesday, December 5th. SunTrust Banks reiterated a hold rating and set a $42.00 target price on shares of HD Supply in a research note on Thursday, December 7th. Finally, Wells Fargo & Co boosted their target price on shares of HD Supply from $40.00 to $42.00 and gave the company an outperform rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. HD Supply has a consensus rating of Hold and a consensus price target of $38.85.

Shares of HD Supply (NASDAQ HDS) traded up $0.46 during trading hours on Wednesday, hitting $38.96. 2,280,200 shares of the company were exchanged, compared to its average volume of 2,809,887. The company has a current ratio of 2.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $7,280.00, a price-to-earnings ratio of 32.47, a PEG ratio of 0.87 and a beta of 1.40. HD Supply has a fifty-two week low of $28.97 and a fifty-two week high of $44.73.

HD Supply (NASDAQ:HDS) last issued its quarterly earnings results on Tuesday, December 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. HD Supply had a net margin of 16.55% and a return on equity of 41.89%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. analysts forecast that HD Supply will post 2.27 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. American National Bank lifted its holdings in HD Supply by 15.9% in the fourth quarter. American National Bank now owns 70,411 shares of the industrial products company’s stock worth $2,819,000 after purchasing an additional 9,659 shares during the period. DnB Asset Management AS lifted its holdings in HD Supply by 28.6% in the fourth quarter. DnB Asset Management AS now owns 53,060 shares of the industrial products company’s stock worth $2,124,000 after purchasing an additional 11,800 shares during the period. Aurora Investment Counsel acquired a new stake in HD Supply in the fourth quarter worth about $1,973,000. California Public Employees Retirement System raised its position in HD Supply by 4.8% in the third quarter. California Public Employees Retirement System now owns 445,211 shares of the industrial products company’s stock worth $16,059,000 after acquiring an additional 20,211 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in HD Supply in the third quarter worth about $12,625,000.

TRADEMARK VIOLATION NOTICE: “Royal Bank of Canada Downgrades HD Supply (NASDAQ:HDS) to Sector Perform” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and reposted in violation of US and international copyright legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/01/12/hd-supply-hds-downgraded-by-royal-bank-of-canada-to-sector-perform.html.

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)

Receive News & Ratings for HD Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HD Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply