MSC Industrial Direct Company, Inc. (NYSE:MSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “

A number of other equities analysts have also recently issued reports on the stock. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 17th. BMO Capital Markets restated a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. TheStreet cut shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co cut shares of MSC Industrial Direct from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Friday, August 4th. Finally, BidaskClub cut shares of MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $90.25.

Shares of MSC Industrial Direct (NYSE:MSM) opened at 73.80 on Friday. The company’s 50 day moving average is $69.45 and its 200-day moving average is $83.70. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a market cap of $4.20 billion, a P/E ratio of 18.40 and a beta of 0.51.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The firm had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. During the same period in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Analysts expect that MSC Industrial Direct will post $3.98 EPS for the current fiscal year.

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In other news, Director Philip Peller bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average price of $72.00 per share, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 31.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in MSM. BlackRock Inc. increased its position in shares of MSC Industrial Direct by 7,681.5% during the 1st 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 in the last quarter. FMR LLC increased its position in shares of MSC Industrial Direct by 72.5% during the 1st 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 in the last quarter. Alliancebernstein L.P. increased its position in shares of MSC Industrial Direct by 267.2% during the 2nd 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of MSC Industrial Direct by 26.2% during the 2nd 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 in the last quarter. Finally, Jennison Associates LLC increased its position in shares of MSC Industrial Direct by 52.8% during the 2nd quarter. Jennison Associates LLC now owns 912,001 shares of the industrial products company’s stock worth $78,396,000 after purchasing an additional 315,012 shares in the last quarter. Institutional investors and hedge funds own 75.58% of the company’s stock.

MSC Industrial Direct Company Profile

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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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