RBC Capital Downgrades HD Supply Holdings (HDS) to Sector Perform

September 20, 2016 6:19 AM EDT
Get Alerts HDS Hot Sheet
Price: $41.66 +0.92%

Rating Summary:
    16 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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RBC Capital downgraded HD Supply Holdings (NASDAQ: HDS) from Outperform to Sector Perform with a price target of $35.00 (from $43.00), saying they see share range-bound following Q2 executions woes.

Analyst Deane Dray commented, "We are downgrading HDS from Outperform to Sector Perform as we expect the shares to stay “cheap for a reason” and range-bound over the medium-term. We believe it is likely to take several quarters to address the supply chain missteps and restore investor confidence in this highly leveraged cyclical. With the latest refinancing catalyst having mostly played out, we are shifting to the sidelines for now."

For an analyst ratings summary and ratings history on HD Supply Holdings click here. For more ratings news on HD Supply Holdings click here.

Shares of HD Supply Holdings closed at $31.51 yesterday.

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