Pinnacle Associates Ltd. boosted its stake in shares of HD Supply Holdings, Inc. (NASDAQ:HDS) by 9.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,660 shares of the industrial products company’s stock after purchasing an additional 2,195 shares during the quarter. Pinnacle Associates Ltd.’s holdings in HD Supply Holdings were worth $755,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of HDS. Alps Advisors Inc. grew its holdings in HD Supply Holdings by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,673 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 30 shares during the last quarter. World Asset Management Inc lifted its stake in HD Supply Holdings 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 buying an additional 33 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in HD Supply Holdings by 1.7% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,993 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 49 shares during the last quarter. Cadence Capital Management LLC increased its stake in HD Supply Holdings by 0.9% during the 1st quarter. Cadence Capital Management LLC now owns 6,096 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 53 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of HD Supply Holdings by 0.4% in the first quarter. Teacher Retirement System of Texas now owns 15,831 shares of the industrial products company’s stock valued at $651,000 after buying an additional 61 shares during the period.
Shares of HD Supply Holdings, Inc. (HDS) opened at 34.92 on Friday. The firm has a 50-day moving average price of $31.96 and a 200 day moving average price of $35.88. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 11.03 and a beta of 1.40. HD Supply Holdings, Inc. has a 52 week low of $28.97 and a 52 week high of $44.73.
HD Supply Holdings (NASDAQ:HDS) last issued its quarterly earnings results on Wednesday, September 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. HD Supply Holdings had a return on equity of 49.76% and a net margin of 9.31%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. HD Supply Holdings’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that HD Supply Holdings, Inc. will post $2.21 EPS for the current fiscal year.
HD Supply Holdings announced that its board has initiated a stock repurchase program on Tuesday, June 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of brokerages have recently issued reports on HDS. Credit Suisse Group cut shares of HD Supply Holdings from an “outperform” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Friday, September 8th. Longbow Research cut shares of HD Supply Holdings from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. Morgan Stanley restated an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of HD Supply Holdings in a research report on Friday, September 1st. Zacks Investment Research downgraded HD Supply Holdings from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, BidaskClub raised shares of HD Supply Holdings from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.14.
About HD Supply Holdings
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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