HD Supply (NASDAQ:HDS) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research firms have also recently weighed in on HDS. Wells Fargo & Company lifted their price objective on shares of HD Supply from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $38.00 price objective on shares of HD Supply in a report on Monday, October 9th. Zacks Investment Research cut shares of HD Supply from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 price objective (up previously from $37.00) on shares of HD Supply in a report on Monday, October 2nd. Finally, BidaskClub raised shares of HD Supply from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. HD Supply currently has an average rating of “Hold” and an average target price of $38.15.

Shares of HD Supply (NASDAQ:HDS) traded up $2.31 during trading on Tuesday, hitting $38.80. 8,922,918 shares of the company traded hands, compared to its average volume of 2,720,937. The company has a current ratio of 2.04, a quick ratio of 1.41 and a debt-to-equity ratio of 3.57. HD Supply has a 12-month low of $28.97 and a 12-month high of $44.73. The stock has a market capitalization of $7,350.00, a PE ratio of 14.26, a PEG ratio of 0.82 and a beta of 1.40.

HD Supply (NASDAQ:HDS) last issued its earnings results on Monday, December 4th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.15. HD Supply had a net margin of 9.31% and a return on equity of 49.76%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. analysts predict that HD Supply will post 2.21 earnings per share for the current fiscal year.

HD Supply announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 29th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. grew its position in shares of HD Supply by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,673 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 30 shares during the period. World Asset Management Inc grew its position in shares of HD Supply by 0.4% in the second quarter. World Asset Management Inc now owns 9,073 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 33 shares during the period. Utah Retirement Systems grew its position in shares of HD Supply by 0.5% in the second quarter. Utah Retirement Systems now owns 36,900 shares of the industrial products company’s stock valued at $1,130,000 after purchasing an additional 200 shares during the period. Delphi Management Inc. MA grew its position in shares of HD Supply by 0.5% in the second quarter. Delphi Management Inc. MA now owns 62,359 shares of the industrial products company’s stock valued at $1,910,000 after purchasing an additional 339 shares during the period. Finally, Creative Planning grew its position in shares of HD Supply by 15.2% in the second quarter. Creative Planning now owns 3,800 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 500 shares during the period.

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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.

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Analyst Recommendations for HD Supply (NASDAQ:HDS)

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