Zacks Investment Research upgraded shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $85.00 target price on the industrial products company’s stock.

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 research firms have also weighed in on MSM. BidaskClub lowered MSC Industrial Direct from a sell rating to a strong sell rating in a report on Friday, July 28th. Robert W. Baird reissued a neutral rating and set a $85.00 target price (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. Stifel Nicolaus reissued a hold rating and set a $78.00 target price (down from $88.00) on shares of MSC Industrial Direct in a report on Friday, July 14th. BMO Capital Markets decreased their target price on MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating on the stock in a report on Friday, July 14th. Finally, Credit Suisse Group decreased their target price on MSC Industrial Direct from $100.00 to $93.00 and set an outperform rating on the stock in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $88.38.

Shares of MSC Industrial Direct (MSM) traded up 0.74% during trading on Wednesday, reaching $76.27. The company’s stock had a trading volume of 677,681 shares. The company has a market cap of $4.34 billion, a PE ratio of 19.02 and a beta of 0.54. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The stock’s 50 day moving average price is $72.50 and its 200 day moving average price is $80.53.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The company had revenue of $743.90 million for the quarter, compared to analysts’ expectations of $744.49 million. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that MSC Industrial Direct will post $3.97 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leith Wheeler Investment Counsel Ltd. grew its holdings in MSC Industrial Direct by 30.9% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 21,247 shares of the industrial products company’s stock valued at $1,854,000 after buying an additional 5,010 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of MSC Industrial Direct by 52.2% during the 2nd quarter. WINTON GROUP Ltd now owns 53,402 shares of the industrial products company’s stock worth $4,590,000 after purchasing an additional 18,313 shares in the last quarter. Koch Industries Inc. grew its holdings in shares of MSC Industrial Direct by 10,738.5% during the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 281,994 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in shares of MSC Industrial Direct by 73.4% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 147,425 shares of the industrial products company’s stock worth $12,673,000 after purchasing an additional 62,425 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of MSC Industrial Direct by 2.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,492 shares of the industrial products company’s stock worth $1,160,000 after purchasing an additional 271 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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