Watsco, Inc. (WSO) Stock Rating Reaffirmed by Morgan Stanley
Watsco, Inc. (NYSE:WSO)‘s stock had its “underweight” rating reissued by Morgan Stanley in a report released on Wednesday. They currently have a $141.00 price target on the construction company’s stock, up from their previous price target of $139.00. Morgan Stanley’s price target would indicate a potential downside of 5.99% from the company’s previous close.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $176.00 target price (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. Seaport Global Securities upgraded shares of Watsco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $160.00 in a report on Wednesday, April 26th. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Finally, Wolfe Research began coverage on shares of Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $158.00.
Watsco (NYSE:WSO) traded down 1.01% on Wednesday, reaching $148.47. The company’s stock had a trading volume of 179,533 shares. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 28.83 and a beta of 0.84. The stock has a 50 day moving average price of $150.65 and a 200-day moving average price of $146.90. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a net margin of 4.13% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Equities analysts predict that Watsco will post $5.72 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. ING Groep NV purchased a new stake in Watsco during the second quarter worth approximately $570,000. Breton Hill Capital Ltd. bought a new position in Watsco during the second quarter worth about $391,000. Riverbridge Partners LLC bought a new position in Watsco during the second quarter worth about $14,930,000. First Citizens Bank & Trust Co. bought a new position in Watsco during the second quarter worth about $206,000. Finally, Quantitative Systematic Strategies LLC increased its position in Watsco by 64.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 7,587 shares of the construction company’s stock worth $1,161,000 after buying an additional 2,961 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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