MSC Industrial Direct (NYSE:MSM) Stock Rating Lowered by Zacks Research

MSC Industrial Direct (NYSE:MSM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other research analysts have also recently commented on MSM. Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a report on Wednesday, July 1st. Weiss Ratings raised MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. KeyCorp increased their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, DA Davidson increased their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.43.

MSC Industrial Direct Stock Down 1.1%

MSM opened at $117.63 on Monday. MSC Industrial Direct has a 12 month low of $78.80 and a 12 month high of $130.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The business has a 50-day moving average of $122.09 and a two-hundred day moving average of $107.90. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 28.41 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.28 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, research analysts expect that MSC Industrial Direct will post 4.49 earnings per share for the current year.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its position in shares of MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. First Horizon Corp lifted its holdings in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after buying an additional 201 shares during the period. Quarry LP lifted its holdings in shares of MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after buying an additional 210 shares during the period. Hantz Financial Services Inc. boosted its stake in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after buying an additional 153 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in MSC Industrial Direct during the fourth quarter worth about $48,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.