MSC Industrial Direct (NYSE:MSM) Stock Rating Upgraded by Wells Fargo & Company


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MSC Industrial Direct (NYSE:MSM) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, Briefing.com reports. The brokerage currently has a $105.00 target price on the industrial products company’s stock, up from their previous target price of $90.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 21.18% from the company’s current price.

A number of other brokerages also recently issued reports on MSM. Deutsche Bank Aktiengesellschaft cut their target price on MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating for the company in a research note on Monday. Zacks Investment Research cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, William Blair reiterated a “market perform” rating on shares of MSC Industrial Direct in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $85.00.

NYSE:MSM opened at $86.65 on Thursday. The company has a market cap of $4.84 billion, a P/E ratio of 21.50 and a beta of 0.99. MSC Industrial Direct has a twelve month low of $56.16 and a twelve month high of $93.92. The company’s 50-day moving average price is $88.03 and its 200-day moving average price is $80.50. The company has a current ratio of 2.23, a quick ratio of 1.22 and a debt-to-equity ratio of 0.41.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. MSC Industrial Direct had a return on equity of 20.42% and a net margin of 7.14%. The business had revenue of $774.00 million during the quarter, compared to analyst estimates of $778.77 million. During the same period in the prior year, the business earned $1.00 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, analysts expect that MSC Industrial Direct will post 4.65 earnings per share for the current year.

In related news, Director Philip Peller sold 1,789 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $86.82, for a total value of $155,320.98. Also, SVP Kari D. Heerdt sold 28,934 shares of the company’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $90.00, for a total value of $2,604,060.00. The disclosure for this sale can be found here. Insiders sold 81,339 shares of company stock worth $7,019,914 in the last ninety days. 28.44% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of MSC Industrial Direct by 11.7% in the 1st quarter. Pacer Advisors Inc. now owns 13,868 shares of the industrial products company’s stock valued at $1,251,000 after buying an additional 1,448 shares during the period. Norges Bank acquired a new position in MSC Industrial Direct in the 4th quarter valued at about $49,169,000. UBS Asset Management Americas Inc. increased its stake in MSC Industrial Direct by 13.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 103,959 shares of the industrial products company’s stock worth $8,773,000 after purchasing an additional 12,434 shares during the period. Principal Financial Group Inc. lifted its position in shares of MSC Industrial Direct by 6.7% during the fourth quarter. Principal Financial Group Inc. now owns 210,946 shares of the industrial products company’s stock worth $17,802,000 after purchasing an additional 13,192 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of MSC Industrial Direct in the fourth quarter valued at approximately $230,000. 72.20% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include 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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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