Watsco Inc. (WSO) Shares Down 2.8%
Watsco Inc. (NYSE:WSO)’s share price dropped 2.8% on Tuesday . The stock traded as low as $139.58 and last traded at $139.79, with a volume of 104,654 shares changing hands. The stock had previously closed at $143.85.
WSO has been the subject of several recent research reports. Susquehanna initiated coverage on Watsco in a research note on Wednesday, June 1st. They issued a “positive” rating and a $154.00 price objective for the company. Seaport Global Securities cut Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research note on Monday, July 25th. Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Stifel Nicolaus decreased their price objective on Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Finally, Barclays PLC set a $113.00 price objective on Watsco and gave the company a “sell” rating in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Watsco currently has an average rating of “Hold” and a consensus price target of $138.50.
The firm has a market capitalization of $4.51 billion, a PE ratio of 28.07 and a beta of 1.03. The firm has a 50 day moving average of $144.91 and a 200-day moving average of $137.47.
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Watsco (NYSE:WSO) last announced its quarterly earnings results on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.22. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 earnings per share. On average, equities analysts forecast that Watsco Inc. will post $5.31 EPS for the current year.
A number of large investors have recently made changes to their positions in WSO. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Watsco during the second quarter valued at approximately $120,000. Cantab Capital Partners LLP bought a new stake in Watsco during the second quarter worth about $122,000. Creative Planning raised its stake in Watsco by 1.8% in the second quarter. Creative Planning now owns 966 shares of the company’s stock worth $136,000 after buying an additional 17 shares during the period. Gray Financial Group GA ADV ADV bought a new stake in Watsco during the second quarter worth about $141,000. Finally, Seven Eight Capital LLC raised its stake in Watsco by 275.0% in the first quarter. Seven Eight Capital LLC now owns 1,500 shares of the company’s stock worth $202,000 after buying an additional 1,100 shares during the period. Institutional investors own 67.35% of the company’s stock.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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