MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by equities researchers at Gabelli from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $94.00 target price on the industrial products company’s stock. Gabelli’s price objective indicates a potential upside of 24.16% from the stock’s current price.

MSM has been the topic of several other reports. J P Morgan Chase & Co cut MSC Industrial Direct from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $76.00 in a research note on Friday, August 4th. BMO Capital Markets reduced their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday, July 14th. Susquehanna Bancshares Inc began coverage on MSC Industrial Direct in a research note on Monday, September 25th. They set a “neutral” rating and a $77.00 price objective on the stock. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Finally, KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.38.

Shares of MSC Industrial Direct (NYSE MSM) traded up 1.89% during trading on Friday, hitting $77.14. 71,632 shares of the stock were exchanged. MSC Industrial Direct has a 12-month low of $65.42 and a 12-month high of $105.70. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 19.24 and a beta of 0.54. The firm has a 50 day moving average of $72.24 and a 200-day moving average of $80.69.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, meeting 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 company had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. During the same period in the prior year, the business posted $1.05 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that MSC Industrial Direct will post $3.97 earnings per share for the current year.

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In other MSC Industrial Direct news, Director Philip Peller purchased 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were bought at an average cost of $72.00 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now owns 2,422 shares of the company’s stock, valued at $174,384. The purchase was disclosed in a filing with the SEC, which is available through this link. 31.28% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in MSC Industrial Direct by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 8 shares during the period. QS Investors LLC grew its holdings in MSC Industrial Direct by 0.5% during the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 8 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in MSC Industrial Direct by 0.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,882 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 22 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in MSC Industrial Direct by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,580 shares of the industrial products company’s stock worth $566,000 after acquiring an additional 29 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in MSC Industrial Direct by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 3,608 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 77 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

About MSC Industrial Direct

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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