MSC Industrial Direct’s (MSM) Market Perform Rating Reiterated at BMO Capital Markets
A number of other research analysts also recently commented on the company. TheStreet downgraded MSC Industrial Direct from a b rating to a c+ rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co downgraded MSC Industrial Direct from an overweight rating to a neutral rating and lowered their target price for the company from $80.00 to $76.00 in a research report on Friday, August 4th. Zacks Investment Research upgraded MSC Industrial Direct from a sell rating to a hold rating in a research report on Thursday, August 3rd. BidaskClub downgraded MSC Industrial Direct from a sell rating to a strong sell rating in a research report on Friday, July 28th. Finally, Northcoast Research assumed coverage on MSC Industrial Direct in a research report on Tuesday, July 25th. They set a neutral rating for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $91.75.
MSC Industrial Direct (MSM) opened at 72.06 on Tuesday. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 17.97 and a beta of 0.51. The company’s 50-day moving average is $69.41 and its 200 day moving average is $84.62. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, meeting analysts’ consensus estimates of $1.09. The firm had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. On average, analysts forecast that MSC Industrial Direct will post $3.97 EPS for the current fiscal year.
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In related news, Director Philip Peller purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were bought at an average price of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now owns 2,422 shares of the company’s stock, valued at approximately $174,384. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 31.28% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after purchasing an additional 37,928 shares during the period. BlackRock Inc. increased its stake in MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock worth $382,836,000 after purchasing an additional 3,677,680 shares during the period. JPMorgan Chase & Co. increased its stake in MSC Industrial Direct by 26.2% in the second quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after purchasing an additional 649,201 shares during the period. FMR LLC increased its stake in MSC Industrial Direct by 72.5% in the first quarter. FMR LLC now owns 3,074,574 shares of the industrial products company’s stock worth $315,943,000 after purchasing an additional 1,292,581 shares during the period. Finally, Alliancebernstein L.P. increased its stake in MSC Industrial Direct by 267.2% in the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after purchasing an additional 1,048,714 shares during the period. Institutional investors and hedge funds own 75.69% of the company’s stock.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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