Watsco, Inc. (WSO) Earns Buy Rating from KeyCorp
Watsco, Inc. (NYSE:WSO)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a research report issued to clients and investors on Friday.
A number of other equities research analysts have also recently commented on the company. Morgan Stanley raised their price objective on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Stifel Nicolaus reissued a “buy” rating and issued a $154.00 price objective on shares of Watsco in a research note on Thursday, September 7th. Robert W. Baird reissued a “buy” rating and issued a $163.00 price objective on shares of Watsco in a research note on Friday, September 1st. Finally, BidaskClub cut Watsco from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $160.40.
Shares of Watsco (NYSE WSO) traded down $1.08 during trading on Friday, reaching $164.87. The company’s stock had a trading volume of 157,963 shares, compared to its average volume of 276,999. The company has a quick ratio of 1.42, a current ratio of 3.13 and a debt-to-equity ratio of 0.21. Watsco has a 12-month low of $134.08 and a 12-month high of $167.94. The firm has a market capitalization of $5,900.00, a PE ratio of 30.58 and a beta of 0.83.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $1.78 EPS. The company’s revenue was down .9% on a year-over-year basis. analysts expect that Watsco will post 5.59 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Watsco by 16.1% during the second quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock valued at $4,741,000 after buying an additional 4,253 shares during the last quarter. Advisor Group Inc. lifted its holdings in Watsco by 132.4% during the second quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock worth $263,000 after acquiring an additional 972 shares during the period. Bank of Montreal Can lifted its holdings in Watsco by 0.8% during the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after acquiring an additional 22 shares during the period. Royal Bank of Canada lifted its holdings in Watsco by 46.9% during the second quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock worth $2,002,000 after acquiring an additional 4,146 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Watsco by 306.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 257,243 shares of the construction company’s stock worth $39,667,000 after acquiring an additional 193,889 shares during the period. 81.10% of the stock is currently owned by institutional investors.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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