Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of MSC Industrial Direct from a hold rating to a buy rating and set a $99.00 price objective for the company in a research report on Saturday, July 8th. TheStreet cut shares of MSC Industrial Direct from a b rating to a c+ rating in a research report on Wednesday, August 16th. Stifel Nicolaus reissued a hold rating and issued a $88.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a research report on Monday, June 12th. BMO Capital Markets lowered their price objective on shares of MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating for the company in a research report on Friday, July 14th. Finally, Northcoast Research initiated coverage on shares of MSC Industrial Direct in a research report on Tuesday, July 25th. They issued a neutral rating for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $90.25.
Shares of MSC Industrial Direct (NYSE MSM) opened at 73.33 on Friday. The firm has a 50-day moving average of $69.45 and a 200 day moving average of $83.70. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 18.29 and a beta of 0.51.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. On average, equities research analysts predict that MSC Industrial Direct will post $3.97 EPS for the current year.
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In other MSC Industrial Direct news, Director Philip Peller purchased 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average price of $72.00 per share, with a total value of $72,000.00. Following the transaction, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.28% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of MSC Industrial Direct by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after acquiring an additional 37,928 shares in the last quarter. BlackRock Inc. raised its stake in shares of MSC Industrial Direct by 7,681.5% during the 1st quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock worth $382,836,000 after acquiring an additional 3,677,680 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of MSC Industrial Direct by 26.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after acquiring an additional 649,201 shares in the last quarter. FMR LLC raised its stake in shares of MSC Industrial Direct by 72.5% during the 1st quarter. FMR LLC now owns 3,074,574 shares of the industrial products company’s stock worth $315,943,000 after acquiring an additional 1,292,581 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of MSC Industrial Direct by 267.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after acquiring an additional 1,048,714 shares in the last quarter. 75.58% of the stock is 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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