MSC Industrial Direct (NYSE:MSM) Upgraded at Wall Street Zen

MSC Industrial Direct (NYSE:MSM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research firms have also recently commented on MSM. Weiss Ratings raised shares of MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a report on Wednesday. DA Davidson upped their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp increased their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $118.17.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $123.06 on Friday. MSC Industrial Direct has a 12 month low of $78.80 and a 12 month high of $127.51. The company has a market cap of $6.87 billion, a P/E ratio of 29.72 and a beta of 0.83. The business’s 50 day moving average is $111.18 and its two-hundred day moving average is $97.29. The company has a quick ratio of 0.78, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.MSC Industrial Direct’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. On average, equities analysts expect that MSC Industrial Direct will post 4.46 EPS for the current year.

Institutional Trading of MSC Industrial Direct

Several institutional investors have recently bought and sold shares of the stock. First Horizon Corp grew its position in MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 201 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 153 shares during the period. Quarry LP boosted its stake in shares of MSC Industrial Direct by 71.7% in the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of MSC Industrial Direct in the 4th quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 326 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.