Raymond James Downgrades MSC Industrial Direct (NYSE:MSM) to Market Perform

MSC Industrial Direct (NYSE:MSM) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Thursday, The Fly reports.

MSM has been the topic of several other reports. Wells Fargo & Co set a $70.00 price objective on shares of MSC Industrial Direct and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Buckingham Research decreased their price objective on shares of MSC Industrial Direct from $77.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Gordon Haskett cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 price objective on the stock. in a research note on Monday, June 10th. Stephens set a $82.00 price objective on shares of MSC Industrial Direct and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Northcoast Research cut shares of MSC Industrial Direct from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $89.00 to $74.00 in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $80.70.

Shares of MSC Industrial Direct stock opened at $74.15 on Thursday. The company has a current ratio of 2.50, a quick ratio of 1.35 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.04 and a beta of 0.91. MSC Industrial Direct has a 1-year low of $64.59 and a 1-year high of $90.25. The firm’s 50-day moving average price is $68.76 and its two-hundred day moving average price is $75.50.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.05). The firm had revenue of $866.50 million for the quarter, compared to the consensus estimate of $881.62 million. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. MSC Industrial Direct’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 earnings per share. As a group, equities research analysts predict that MSC Industrial Direct will post 5.24 EPS for the current year.

A number of hedge funds have recently made changes to their positions in MSM. Investors Research Corp acquired a new stake in MSC Industrial Direct in the first quarter worth $25,000. Pearl River Capital LLC acquired a new stake in MSC Industrial Direct in the fourth quarter worth $35,000. Steward Partners Investment Advisory LLC acquired a new stake in MSC Industrial Direct in the second quarter worth $53,000. Quadrant Capital Group LLC raised its holdings in MSC Industrial Direct by 1,212.1% in the first quarter. Quadrant Capital Group LLC now owns 761 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 703 shares during the period. Finally, Trust Co. of Vermont raised its holdings in MSC Industrial Direct by 64.9% in the fourth quarter. Trust Co. of Vermont now owns 874 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 344 shares during the period. 75.36% of the stock is currently owned by hedge funds and other institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, 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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