MSC Industrial Direct Company, Inc. (NYSE:MSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
Several other equities research analysts have also commented on the stock. J P Morgan Chase & Co began coverage on shares of MSC Industrial Direct in a report on Friday, June 2nd. They issued an “overweight” rating and a $91.00 price target for the company. Stifel Nicolaus reissued a “hold” rating and issued a $88.00 price target (down previously from $92.00) on shares of MSC Industrial Direct in a report on Monday, June 12th. Credit Suisse Group raised shares of MSC Industrial Direct from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $100.00 in a report on Wednesday, April 19th. Barclays PLC reissued a “sell” rating and issued a $85.00 price target on shares of MSC Industrial Direct in a report on Friday, April 7th. Finally, KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a report on Tuesday, April 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.00.
MSC Industrial Direct (NYSE MSM) opened at 74.31 on Friday. MSC Industrial Direct has a 52-week low of $69.96 and a 52-week high of $105.70. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 18.53 and a beta of 0.54. The firm has a 50 day moving average of $84.90 and a 200-day moving average of $94.50.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The firm had revenue of $743.90 million during the quarter, compared to analyst estimates of $744.49 million. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. Equities analysts expect that MSC Industrial Direct will post $3.98 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at $41,201,000. Quadrature Capital Ltd purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at $2,359,000. UBS Asset Management Americas Inc. boosted its position in shares of MSC Industrial Direct by 66.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 69,076 shares of the industrial products company’s stock valued at $6,381,000 after buying an additional 27,553 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new position in shares of MSC Industrial Direct during the first quarter valued at $1,120,000. Finally, Confluence Investment Management LLC boosted its position in shares of MSC Industrial Direct by 3.8% in the first quarter. Confluence Investment Management LLC now owns 200,039 shares of the industrial products company’s stock valued at $20,556,000 after buying an additional 7,293 shares during the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.
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