Bank of America Boosts HD Supply (HDS) Price Target to $50.00

HD Supply (NASDAQ:HDS) had its price objective boosted by equities research analysts at Bank of America from $46.00 to $50.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America’s target price suggests a potential upside of 15.77% from the company’s current price.

Other research analysts also recently issued research reports about the company. BidaskClub raised HD Supply from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. TheStreet downgraded HD Supply from a “b” rating to a “c+” rating in a research note on Wednesday, March 21st. SunTrust Banks raised HD Supply from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.01 to $48.00 in a research note on Thursday, March 15th. Barclays raised their price objective on HD Supply from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 14th. Finally, ValuEngine raised HD Supply from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.92.

HD Supply opened at $43.19 on Tuesday, MarketBeat Ratings reports. HD Supply has a fifty-two week low of $28.97 and a fifty-two week high of $44.63. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.16 and a current ratio of 2.15. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.85 and a beta of 1.25.

HD Supply (NASDAQ:HDS) last posted its earnings results on Tuesday, June 5th. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. HD Supply had a return on equity of 35.61% and a net margin of 18.40%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. HD Supply’s revenue was down 25.8% on a year-over-year basis. equities analysts predict that HD Supply will post 3.25 earnings per share for the current year.

In related news, Director Jana Partners Llc sold 636,023 shares of the stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $43.93, for a total transaction of $27,940,490.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Evan Levitt sold 23,554 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $42.60, for a total value of $1,003,400.40. Following the sale, the chief financial officer now owns 27,898 shares of the company’s stock, valued at approximately $1,188,454.80. The disclosure for this sale can be found here. Insiders have sold 2,211,505 shares of company stock valued at $96,182,483 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its holdings in HD Supply by 61.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,496 shares of the industrial products company’s stock valued at $133,000 after buying an additional 1,331 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of HD Supply in the 1st quarter worth approximately $150,000. American International Group Inc. purchased a new position in shares of HD Supply in the 4th quarter worth approximately $177,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of HD Supply in the 4th quarter worth approximately $228,000. Finally, IBM Retirement Fund purchased a new position in shares of HD Supply in the 1st quarter worth approximately $273,000. Hedge funds and other institutional investors own 96.69% 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, appliances, janitorial supplies, hardware, kitchen and bath cabinets, window coverings, textiles and guest amenities, healthcare maintenance, and water and wastewater treatment products, as well as heating, ventilating, and air conditioning products.

Analyst Recommendations for HD Supply (NASDAQ:HDS)

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