BidaskClub Lowers Watsco, Inc. (NYSE:WSO) to Hold
Watsco, Inc. (NYSE:WSO) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
Several other equities analysts have also issued reports on WSO. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Wolfe Research assumed coverage on Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 target price (up from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Stifel Nicolaus reaffirmed 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. Finally, Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $160.00 in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $163.20.
Watsco (NYSE:WSO) traded up 0.94% on Monday, reaching $148.72. The company’s stock had a trading volume of 125,003 shares. The firm’s 50-day moving average price is $151.54 and its 200 day moving average price is $146.91. The company has a market cap of $4.86 billion, a P/E ratio of 27.50 and a beta of 0.83. Watsco has a 52-week low of $128.60 and a 52-week high of $159.55.
Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. Watsco’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. Equities analysts anticipate that Watsco will post $5.78 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia purchased a new position in shares of Watsco during the first quarter valued at $450,000. Flinton Capital Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at $104,000. Winslow Evans & Crocker Inc. raised its position in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock valued at $123,000 after buying an additional 600 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in shares of Watsco during the second quarter valued at $125,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Watsco by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 836 shares of the construction company’s stock valued at $118,000 after buying an additional 3 shares during the period. 79.58% of the stock is owned by institutional investors and hedge funds.
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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