MSC Industrial Direct Company, Inc. (NYSE:MSM) Upgraded to “Buy” at Zacks Investment Research
MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $99.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.19% from the company’s previous close.
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 research firms have also weighed in on MSM. KeyCorp restated a “sector weight” rating on shares of MSC Industrial Direct Company in a report on Tuesday, April 4th. Barclays PLC restated a “sell” rating and issued a $85.00 target price on shares of MSC Industrial Direct Company in a report on Friday, April 7th. BidaskClub upgraded MSC Industrial Direct Company from a “strong sell” rating to a “sell” rating in a report on Wednesday. Credit Suisse Group upgraded MSC Industrial Direct Company from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $100.00 in a report on Wednesday, April 19th. Finally, Raymond James Financial, Inc. upgraded MSC Industrial Direct Company from a “market perform” rating to a “buy” rating and set a $103.00 price target for the company in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $94.92.
Shares of MSC Industrial Direct Company (MSM) opened at 89.04 on Friday. The firm has a market cap of $5.07 billion, a P/E ratio of 22.42 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 Company has a 12 month low of $69.76 and a 12 month high of $105.70.
MSC Industrial Direct Company (NYSE:MSM) last posted its earnings results on Thursday, April 6th. The industrial products company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. MSC Industrial Direct Company had a return on equity of 19.39% and a net margin of 8.19%. The firm had revenue of $703.78 million during the quarter, compared to analyst estimates of $697.85 million. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that MSC Industrial Direct Company will post $4.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, July 14th. MSC Industrial Direct Company’s dividend payout ratio is presently 45.57%.
Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Dempsey Capital Management LLC boosted its stake in MSC Industrial Direct Company by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock worth $112,000 after buying an additional 37 shares in the last quarter. Simplex Trading LLC purchased a new stake in MSC Industrial Direct Company during the first quarter worth about $139,000. PNC Financial Services Group Inc. boosted its stake in MSC Industrial Direct Company by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock worth $161,000 after buying an additional 88 shares in the last quarter. Invictus RG boosted its stake in MSC Industrial Direct Company by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after buying an additional 1,442 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in MSC Industrial Direct Company during the first quarter worth about $205,000. Institutional investors and hedge funds own 77.34% of the company’s stock.
About MSC Industrial Direct Company
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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