Watsco (WSO) PT Lowered to $169.00 at JPMorgan Chase & Co.

Watsco (NYSE:WSO) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $180.00 to $169.00 in a research note issued to investors on Monday. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 2.44% from the stock’s current price.

WSO has been the subject of several other reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research report on Monday, February 5th. KeyCorp restated a “buy” rating on shares of Watsco in a research report on Friday, November 17th. Morgan Stanley upped their target price on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday, October 26th. Susquehanna Bancshares set a $195.00 target price on Watsco and gave the stock a “buy” rating in a research report on Friday. Finally, Stephens set a $169.00 target price on Watsco and gave the stock a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Watsco presently has an average rating of “Hold” and an average price target of $170.50.

Watsco (NYSE WSO) opened at $164.98 on Monday. The company has a current ratio of 3.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5,896.55, a P/E ratio of 28.49 and a beta of 0.87. Watsco has a 52-week low of $134.08 and a 52-week high of $182.79.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). The business had revenue of $964.35 million for the quarter, compared to analyst estimates of $965.85 million. Watsco had a return on equity of 14.66% and a net margin of 4.80%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. research analysts anticipate that Watsco will post 6.82 EPS for the current year.

In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares in the company, valued at $2,595,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.93% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock worth $456,201,000 after purchasing an additional 105,677 shares during the period. State Street Corp increased its holdings in shares of Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after buying an additional 50,751 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Watsco by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 768,615 shares of the construction company’s stock valued at $130,696,000 after buying an additional 3,569 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Watsco by 0.8% in the third quarter. Baillie Gifford & Co. now owns 701,295 shares of the construction company’s stock valued at $112,958,000 after buying an additional 5,761 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Watsco by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 549,423 shares of the construction company’s stock valued at $88,496,000 after buying an additional 3,692 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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About Watsco

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.

Analyst Recommendations for Watsco (NYSE:WSO)

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