Wells Fargo & Co Lowers HD Supply (NASDAQ:HDS) Price Target to $50.00

HD Supply (NASDAQ:HDS) had its price target cut by equities research analysts at Wells Fargo & Co from $55.00 to $50.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 25.28% from the stock’s current price.

Other equities analysts have also issued research reports about the company. BidaskClub upgraded HD Supply from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research upgraded HD Supply from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, May 22nd. Longbow Research upgraded HD Supply from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Monday, June 3rd. Finally, 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 note on Wednesday, March 20th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $47.54.

Shares of NASDAQ HDS traded up $0.51 during trading on Wednesday, reaching $39.91. 49,114 shares of the company traded hands, compared to its average volume of 1,635,678. The firm has a market capitalization of $6.84 billion, a P/E ratio of 11.75, a PEG ratio of 0.73 and a beta of 1.27. HD Supply has a 12-month low of $35.35 and a 12-month high of $47.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.10 and a current ratio of 2.13.

HD Supply (NASDAQ:HDS) last released its quarterly earnings data on Tuesday, June 11th. The industrial products company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. HD Supply had a return on equity of 42.24% and a net margin of 6.70%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. As a group, analysts forecast that HD Supply will post 3.65 earnings per share for the current year.

In related news, CFO Evan Levitt sold 1,500 shares of HD Supply stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $44.70, for a total value of $67,050.00. Following the completion of the transaction, the chief financial officer now owns 35,961 shares in the company, valued at approximately $1,607,456.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.89% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in HDS. Cerebellum GP LLC boosted its holdings in shares of HD Supply by 11.7% during the 1st quarter. Cerebellum GP LLC now owns 7,794 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 816 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of HD Supply by 59.8% during the 1st quarter. Nordea Investment Management AB now owns 558,684 shares of the industrial products company’s stock worth $24,221,000 after purchasing an additional 209,160 shares during the last quarter. FMR LLC boosted its holdings in shares of HD Supply by 8.1% during the 1st quarter. FMR LLC now owns 22,525,969 shares of the industrial products company’s stock worth $976,501,000 after purchasing an additional 1,679,487 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of HD Supply by 3.2% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 7,566 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 237 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of HD Supply by 20.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,001 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 95.12% 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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