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

HD Supply (NASDAQ:HDS) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday.

Several other equities research analysts also recently weighed in on HDS. BidaskClub raised shares of HD Supply from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. ValuEngine raised shares of HD Supply from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 target price (up previously from $37.00) on shares of HD Supply in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of HD Supply from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Wells Fargo & Co lifted their target price on shares of HD Supply from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, October 6th. Fourteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. HD Supply has a consensus rating of “Hold” and an average target price of $38.85.

Shares of HD Supply (HDS) traded down $0.28 on Wednesday, hitting $39.36. 3,384,300 shares of the company traded hands, compared to its average volume of 4,158,533. The company has a market capitalization of $7,290.00, a P/E ratio of 32.80, a P/E/G ratio of 0.87 and a beta of 1.40. The company has a quick ratio of 1.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.40. HD Supply has a 12 month low of $28.97 and a 12 month high of $44.73.

HD Supply (NASDAQ:HDS) last announced its quarterly earnings results on Tuesday, December 5th. The industrial products company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. HD Supply had a net margin of 16.55% and a return on equity of 41.89%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share. equities analysts predict that HD Supply will post 2.28 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of HD Supply by 16.4% during the 2nd quarter. FMR LLC now owns 29,562,670 shares of the industrial products company’s stock valued at $905,504,000 after buying an additional 4,162,500 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of HD Supply by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 15,995,119 shares of the industrial products company’s stock valued at $489,930,000 after buying an additional 383,895 shares in the last quarter. BlackRock Inc. lifted its stake in shares of HD Supply by 20.6% during the 2nd quarter. BlackRock Inc. now owns 9,886,158 shares of the industrial products company’s stock valued at $302,814,000 after buying an additional 1,688,213 shares in the last quarter. Farallon Capital Management LLC lifted its stake in shares of HD Supply by 16.0% during the 2nd quarter. Farallon Capital Management LLC now owns 6,150,156 shares of the industrial products company’s stock valued at $188,379,000 after buying an additional 850,562 shares in the last quarter. Finally, OZ Management LP lifted its stake in shares of HD Supply by 36.4% during the 3rd quarter. OZ Management LP now owns 5,216,940 shares of the industrial products company’s stock valued at $188,175,000 after buying an additional 1,392,371 shares in the last quarter.

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HD Supply 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.

Analyst Recommendations for HD Supply (NASDAQ:HDS)

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