MSC Industrial Direct Company, Inc. (NYSE:MSM) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $76.00 price target on the industrial products company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 7.12% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Credit Suisse Group reduced their price target on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Saturday, April 8th. BMO Capital Markets reduced their price target on shares of MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price target (down previously from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. upgraded shares of MSC Industrial Direct 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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $90.85.

MSC Industrial Direct (NYSE:MSM) traded up 0.65% during trading on Friday, reaching $70.95. 667,765 shares of the company were exchanged. The company’s 50-day moving average price is $79.96 and its 200-day moving average price is $91.87. MSC Industrial Direct has a 1-year low of $69.72 and a 1-year high of $105.70. The stock has a market capitalization of $4.04 billion, a P/E ratio of 17.69 and a beta of 0.50.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to analyst estimates of $744.49 million. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that MSC Industrial Direct will post $3.98 EPS for the current year.

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In other news, Director Philip Peller acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average price of $72.00 per share, with a total value of $72,000.00. Following the transaction, the director now directly owns 2,422 shares in the company, valued at $174,384. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.28% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC increased its stake in MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock valued at $112,000 after buying an additional 37 shares in the last quarter. Simplex Trading LLC bought a new stake in MSC Industrial Direct during the first quarter valued at $139,000. PNC Financial Services Group Inc. increased its stake in MSC Industrial Direct by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock valued at $161,000 after buying an additional 88 shares in the last quarter. Invictus RG increased its stake in MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after buying an additional 1,442 shares in the last quarter. Finally, Parametrica Management Ltd bought a new stake in MSC Industrial Direct during the first quarter valued at $205,000. 76.91% of the stock is currently owned by institutional investors.

MSC Industrial Direct Company Profile

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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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