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MSC Industrial Direct (NYSE:MSM) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a $81.90 price objective on the stock. Zacks‘ price target indicates a potential upside of 1.27% from the stock’s previous close.

MSC Industrial Direct (NYSE:MSM) traded down 0.76% during mid-day trading on Wednesday, hitting $80.87. The stock had a trading volume of 283,949 shares. MSC Industrial Direct has a 52-week low of $71.44 and a 52-week high of $87.92. The stock’s 50-day moving average is $78.53 and its 200-day moving average is $79.39. The company has a market cap of $5.128 billion and a P/E ratio of 21.74.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, October 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $668.50 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, January 28th. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, January 10th.

A number of other firms have also recently commented on MSM. Analysts at Buckingham Research initiated coverage on shares of MSC Industrial Direct in a research note to investors on Wednesday, December 4th. They set a “buy” rating and a $92.00 price target on the stock. Separately, analysts at BB&T Corp. upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note to investors on Monday, November 18th. Finally, analysts at Raymond James upgraded shares of MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, November 15th. They now have a $85.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $87.99.

MSC Industrial Direct Co, Inc (NYSE:MSM) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States.

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