Shares of HD Supply Holdings Inc. (NASDAQ: HDS) were downgraded by analysts at RBC Capital Markets in a note to their investors today.With a rating of Sector Perform on the shares, HD Supply Holdings Inc. has a 52-week high of $36.99. A number of other analysts have commented on the company recently, and HD Supply Holdings Inc. has secured a consensus one-year price target of $38.43, higher than the opening price of $31.15. Downgrades are more likely when analysts consider that the future prospects for the security have diminished from the original recommendation, usually because of an important and major digression in the company’s operations, future outlook or industry.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday HD Supply Holdings Inc. (NASDAQ: HDS) shares last traded at $31.01, a decrease of $0.50 over the previous closing price. Opening at $31.15, they varied from $30.94 and $31.41 throughout the day.
HD Supply Holdings Inc. (NASDAQ: HDS) currently has a market cap of 6.23B.
The stock’s average daily volume is 2,221,980 shares out of a total float 196,526,000 and some 497,824 shares traded hands yesterday, 43 percent below the norm. Swing traders often use swings in trading volume to determine large volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
As with all possible breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
Traders can make educated trades when they follow the activity of professional investors.
With that in mind, HD Supply Holdings Inc. (NASDAQ: HDS) now has a 50-day MA of $34.82 and 200-day MA of $34.03. It has traded in a 52-week range between $21.26 – 36.9900 and today’s last price is 0.16% lower than the 52 week high of $36.99.
Earnings growth is an important factor to look at when buying stocks and investors identify companies that have grown their earnings by at least 25% for 3 consecutive years.
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