Zacks Investment Research Upgrades MSC Industrial Direct Company, Inc. (MSM) to “Buy”
MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $81.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.76% from the stock’s current price.
According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
A number of other research analysts have also issued reports on the company. BidaskClub lowered MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Robert W. Baird reiterated a “neutral” rating and set a $85.00 target price (down previously from $92.00) on shares of MSC Industrial Direct in a research report on Thursday, July 13th. J P Morgan Chase & Co started coverage on MSC Industrial Direct in a research report on Friday, June 2nd. They set an “overweight” rating and a $91.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $78.00 target price (down previously from $88.00) on shares of MSC Industrial Direct in a research report on Friday, July 14th. Finally, BMO Capital Markets decreased their target price on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $90.25.
MSC Industrial Direct (MSM) traded up 0.09% during midday trading on Thursday, hitting $73.80. 361,484 shares of the stock traded hands. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The company’s 50 day moving average price is $69.45 and its 200 day moving average price is $83.70. The firm has a market cap of $4.20 billion, a PE ratio of 18.40 and a beta of 0.51.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The business had revenue of $743.90 million for the quarter, compared to analyst estimates of $744.49 million. During the same quarter in the prior year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that MSC Industrial Direct will post $3.98 earnings per share for the current fiscal year.
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In other news, Director Philip Peller acquired 1,000 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $72.00 per share, with a total value of $72,000.00. Following the purchase, the director now owns 2,422 shares in the company, valued at $174,384. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 31.28% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd raised its stake in MSC Industrial Direct by 52.2% in the 2nd quarter. WINTON GROUP Ltd now owns 53,402 shares of the industrial products company’s stock valued at $4,590,000 after purchasing an additional 18,313 shares during the last quarter. Koch Industries Inc. increased its stake in shares of MSC Industrial Direct by 10,738.5% in the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 281,994 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its stake in shares of MSC Industrial Direct by 73.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 147,425 shares of the industrial products company’s stock worth $12,673,000 after acquiring an additional 62,425 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of MSC Industrial Direct by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,492 shares of the industrial products company’s stock worth $1,160,000 after acquiring an additional 271 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter worth $275,000. 75.58% of the stock is owned by hedge funds and other 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.
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