Stifel Nicolaus Reaffirms “Buy” Rating for Watsco, Inc. (WSO)
Watsco, Inc. (NYSE:WSO)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a research report issued on Thursday. They presently have a $154.00 target price on the construction company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 4.40% from the company’s previous close.
Several other research firms have also weighed in on WSO. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Tuesday, June 27th. BidaskClub upgraded shares of Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Robert W. Baird reiterated a “buy” rating and issued a $163.00 target price on shares of Watsco in a report on Friday, September 1st. Wolfe Research initiated coverage on shares of Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley reiterated 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. One equities 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 company. The stock presently has a consensus rating of “Hold” and a consensus target price of $159.50.
Watsco (NYSE:WSO) traded up 0.33% during midday trading on Thursday, hitting $147.51. The stock had a trading volume of 303,426 shares. Watsco has a 52-week low of $128.60 and a 52-week high of $159.55. The firm has a 50-day moving average of $147.99 and a 200 day moving average of $146.06. The firm has a market capitalization of $4.82 billion, a P/E ratio of 27.28 and a beta of 0.82.
Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $1.82 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Watsco will post $5.78 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake in shares of Watsco by 9.1% in the 1st quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock valued at $110,000 after acquiring an additional 64 shares during the period. Winslow Evans & Crocker Inc. raised its stake in shares of Watsco by 300.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock valued at $123,000 after acquiring an additional 600 shares during the period. San Francisco Sentry Investment Group CA purchased a new stake in shares of Watsco in the 2nd quarter valued at approximately $125,000. Public Employees Retirement Association of Colorado raised its stake in shares of Watsco by 15.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock valued at $147,000 after acquiring an additional 129 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Watsco by 9.1% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock valued at $151,000 after acquiring an additional 88 shares during the period. 81.62% of the stock is currently 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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