Watsco (NYSE:WSO) had its target price lifted by stock analysts at Morgan Stanley from $244.00 to $266.00 in a research report issued on Monday, Analyst Ratings Network reports. The firm currently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s target price indicates a potential downside of 8.43% from the stock’s current price.
Several other research firms have also recently weighed in on WSO. JPMorgan Chase & Co. raised Watsco from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $185.00 to $218.00 in a research report on Monday, March 1st. Vertical Research raised Watsco from a “sell” rating to a “hold” rating in a report on Monday, January 4th. Jefferies Financial Group increased their price target on Watsco from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Friday, January 15th. Finally, William Blair reissued an “outperform” rating on shares of Watsco in a research note on Wednesday, January 20th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Watsco has an average rating of “Hold” and an average target price of $228.00.
NYSE WSO traded down $0.66 on Monday, reaching $290.49. The stock had a trading volume of 2,060 shares, compared to its average volume of 198,638. The business has a 50 day moving average price of $261.29 and a 200 day moving average price of $241.89. The company has a current ratio of 2.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.02. Watsco has a 1 year low of $144.16 and a 1 year high of $295.49. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 47.73 and a beta of 0.79.
Watsco (NYSE:WSO) last issued its earnings results on Thursday, April 22nd. The construction company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.48. Watsco had a return on equity of 13.38% and a net margin of 4.77%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that Watsco will post 6.48 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of WSO. Norges Bank acquired a new stake in shares of Watsco in the 4th quarter worth about $57,666,000. Baillie Gifford & Co. raised its holdings in shares of Watsco by 2.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,740,312 shares of the construction company’s stock worth $394,268,000 after acquiring an additional 45,380 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Watsco by 1.0% in the 4th quarter. BlackRock Inc. now owns 3,452,488 shares of the construction company’s stock worth $782,159,000 after acquiring an additional 32,899 shares during the last quarter. RMB Capital Management LLC acquired a new stake in shares of Watsco in the 4th quarter worth about $6,508,000. Finally, Russell Investments Group Ltd. grew its position in Watsco by 235.5% in the 4th quarter. Russell Investments Group Ltd. now owns 28,199 shares of the construction company’s stock worth $6,397,000 after purchasing an additional 19,795 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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