MSC Industrial Direct Co. (MSM) Sees Strong Trading Volume
MSC Industrial Direct Co. (NYSE:MSM) shares saw an uptick in trading volume on Thursday . 606,458 shares were traded during trading, an increase of 27% from the previous session’s volume of 477,676 shares.The stock last traded at $73.06 and had previously closed at $73.04.
A number of brokerages have weighed in on MSM. Macquarie began coverage on shares of MSC Industrial Direct in a research report on Thursday, August 25th. They set a “neutral” rating and a $80.00 price target for the company. Credit Suisse Group AG initiated coverage on shares of MSC Industrial Direct in a research note on Friday, August 19th. They issued an “underperform” rating and a $65.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $78.00 price objective (down previously from $80.00) on shares of MSC Industrial Direct in a research note on Thursday, July 7th. Barclays PLC raised their price objective on shares of MSC Industrial Direct from $64.00 to $66.00 and gave the company an “underweight” rating in a research note on Thursday, July 7th. Finally, Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $75.44.
The stock has a market capitalization of $4.56 billion and a P/E ratio of 20.00. The stock has a 50-day moving average price of $72.87 and a 200 day moving average price of $73.21.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, July 6th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. The firm earned $727.50 million during the quarter. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Analysts forecast that MSC Industrial Direct Co. will post $3.73 EPS for the current fiscal year.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 3,732 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.35, for a total value of $273,742.20. Following the transaction, the senior vice president now directly owns 16,144 shares in the company, valued at approximately $1,184,162.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).