Watsco, Inc. (WSO) Upgraded by BidaskClub to Buy
Watsco, Inc. (NYSE:WSO) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley reiterated an “underweight” rating and set a $141.00 price target (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price target (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Finally, Seaport Global Securities upgraded Watsco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $160.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $163.20.
Watsco (WSO) traded up 0.14% during mid-day trading on Tuesday, reaching $152.00. The company’s stock had a trading volume of 96,845 shares. The firm’s 50 day moving average is $151.98 and its 200-day moving average is $146.98. The company has a market cap of $4.97 billion, a PE ratio of 28.11 and a beta of 0.83. Watsco has a 12-month low of $128.60 and a 12-month high of $159.55.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. Watsco’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. Equities analysts anticipate that Watsco will post $5.78 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in WSO. BlackRock Inc. increased its position in Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after buying an additional 2,610,583 shares during the period. Thomaspartners Inc. purchased a new position in Watsco during the first quarter valued at $80,907,000. Vanguard Group Inc. increased its position in Watsco by 26.7% in the first quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after buying an additional 517,615 shares during the period. Ameriprise Financial Inc. increased its position in Watsco by 110.4% in the first quarter. Ameriprise Financial Inc. now owns 566,005 shares of the construction company’s stock valued at $80,991,000 after buying an additional 296,959 shares during the period. Finally, Norges Bank purchased a new position in Watsco during the fourth quarter valued at $39,454,000. Institutional investors and hedge funds own 81.16% of the company’s stock.
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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