HD Supply Holdings, Inc. (NASDAQ:HDS) Sees Significant Increase in Short Interest
HD Supply Holdings, Inc. (NASDAQ:HDS) was the target of a significant growth in short interest in the month of July. As of July 14th, there was short interest totalling 6,401,195 shares, a growth of 27.2% from the June 30th total of 5,030,703 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 3,892,457 shares, the days-to-cover ratio is presently 1.6 days.
Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in HD Supply Holdings during the first quarter valued at about $1,002,000. Mountain Pacific Investment Advisers Inc. ID raised its stake in HD Supply Holdings by 7.1% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 338,948 shares of the industrial products company’s stock valued at $13,939,000 after buying an additional 22,578 shares during the last quarter. Parametrica Management Ltd bought a new stake in HD Supply Holdings during the first quarter valued at about $414,000. Inverness Counsel LLC NY bought a new stake in HD Supply Holdings during the first quarter valued at about $18,021,000. Finally, New England Research & Management Inc. bought a new stake in HD Supply Holdings during the first quarter valued at about $341,000. 96.97% of the stock is owned by institutional investors and hedge funds.
HDS has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $53.00 price objective on shares of HD Supply Holdings in a research report on Tuesday, April 11th. Morgan Stanley cut shares of HD Supply Holdings from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $46.00 to $36.00 in a research report on Wednesday, June 7th. Deutsche Bank AG cut shares of HD Supply Holdings from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Friday, June 9th. ValuEngine cut shares of HD Supply Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, Drexel Hamilton cut shares of HD Supply Holdings from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $37.00 in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.50.
Shares of HD Supply Holdings (HDS) opened at 32.18 on Thursday. HD Supply Holdings has a 12 month low of $28.97 and a 12 month high of $44.73. The stock’s 50 day moving average price is $31.30 and its 200-day moving average price is $38.83. The company has a market cap of $6.52 billion, a P/E ratio of 22.13 and a beta of 1.40.
HD Supply Holdings (NASDAQ:HDS) last released its quarterly earnings results on Tuesday, June 6th. The industrial products company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.02. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. HD Supply Holdings had a net margin of 3.92% and a return on equity of 58.13%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Equities research analysts expect that HD Supply Holdings will post $2.10 earnings per share for the current year.
HD Supply Holdings announced that its board has initiated a stock repurchase plan on Tuesday, June 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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HD Supply Holdings Company Profile
HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, Waterworks, 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.
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