MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by analysts at Gabelli from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $94.00 price target on the industrial products company’s stock. Gabelli’s target price would suggest a potential upside of 24.16% from the stock’s previous close.

MSM has been the subject of a number of other reports. Credit Suisse Group reduced their price objective on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a research note on Thursday, July 13th. Zacks Investment Research lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a research note on Thursday, July 13th. BMO Capital Markets reduced their price objective on shares of MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $88.38.

Shares of MSC Industrial Direct (NYSE MSM) opened at 76.16 on Friday. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70. The stock’s 50 day moving average price is $72.24 and its 200 day moving average price is $80.69. The stock has a market capitalization of $4.34 billion, a P/E ratio of 18.99 and a beta of 0.54.

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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to analyst estimates of $744.49 million. During the same quarter last year, the business posted $1.05 EPS. MSC Industrial Direct’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that MSC Industrial Direct will post $3.97 EPS for the current year.

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In other MSC Industrial Direct news, Director Philip Peller purchased 1,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was acquired at an average cost of $72.00 per share, with a total value of $72,000.00. Following the completion of the purchase, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.28% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MSM. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MSC Industrial Direct by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 123 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of MSC Industrial Direct by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the period. QS Investors LLC increased its position in shares of MSC Industrial Direct by 0.5% in the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the period. Invictus RG increased its position in shares of MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 1,442 shares during the period. Finally, Numeric Investors LLC purchased a new position in shares of MSC Industrial Direct in the second quarter valued at about $206,000. 75.58% of the stock is owned by institutional investors and hedge funds.

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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