Loop Capital Launches Coverage on MSC Industrial Direct (NYSE: MSM)
Loop Capital analysts have started to cover shares of MSC Industrial Direct (NYSE: MSM) in a note to investors on Tuesday, Briefing.com reports. The brokerage has set a “hold” rating and a price target of $ 92.00 on the stocks of the industrials company. Loop Capital’s price target indicates a potential increase of 5.54% from the company’s current price.
A number of other equity analysts have also published reports on MSM. TheStreet upgraded MSC Industrial Direct’s shares from a “c +” rating to a “b +” rating in a research report published on Wednesday July 7th. Wells Fargo & Company Upgraded MSC Industrial Direct Shares From “On Equity” To “Overweight” Rating And Set A Target Price Of $ 105 For The Share In A Research Report Released Wednesday, April 14 . William Blair upgraded shares of MSC Industrial Direct from a “market performance” rating to an “outperformance” rating in a research report released on Tuesday, April 13. KeyCorp raised its price target for MSC Industrial Direct shares from $ 96.00 to $ 102.00 and assigned the stock an “overweight” rating in a research report published on Monday, May 3. Finally, Stephens upgraded MSC Industrial Direct shares from a “peer-to-peer” rating to an “overweight” rating and set a target price of $ 115.00 per share in a research report on Thursday, July 8. . Four investment analysts rated the stock with a conservation rating and four gave the company’s stock a buy rating. The stock has a consensus rating of “Buy” and an average price target of $ 101.67.
MSC Industrial Direct shares opened at $ 87.17 on Tuesday. The stock has a market cap of $ 4.85 billion, a price-to-earnings ratio of 24.01 and a beta of 1.10. MSC Industrial Direct has a 52 week low of $ 60.09 and a 52 week high of $ 96.23. The company has a leverage ratio of 0.30, a current ratio of 1.70, and a quick ratio of 0.92. The company has a 50-day moving average of $ 90.10.
MSC Industrial Direct (NYSE: MSM) last reported quarterly results on Tuesday, July 6. The industrials company reported EPS of $ 1.42 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.37 by $ 0.05. The company posted revenue of $ 866.30 million for the quarter, compared to analysts’ estimates of $ 848.61 million. MSC Industrial Direct had a net margin of 6.44% and a return on equity of 22.06%. The company’s revenue grew 3.7% year-on-year. During the same period of the previous year, the company posted earnings per share of $ 1.40. As a group, sell-side analysts predict that MSC Industrial Direct will post earnings per share of 4.78 for the current year.
In other news from MSC Industrial Direct, Executive Vice President Edward F. Martin, Jr. sold 705 shares of the company in a trade on Thursday, July 8. The stock was sold for an average price of $ 90.72, for a total value of $ 63,957.60. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website. In addition, director Louise K. Goeser sold 10,600 shares of the company in a transaction on Tuesday, May 18. The shares were sold for an average price of $ 94.04, for a total value of $ 996,824.00. Following the completion of the sale, the Director now directly owns 18,244 shares of the company, valued at approximately $ 1,715,665.76. Disclosure of this sale can be found here. 28.44% of the shares are held by insiders of the company.
Institutional investors have recently increased or reduced their stakes in the company. American International Group Inc. increased its stake in MSC Industrial Direct by 2.5% in the first quarter. American International Group Inc. now owns 84,655 shares of the industrial products company valued at $ 7,635,000 after acquiring 2,093 additional shares during the period. Sequoia Financial Advisors LLC increased its stake in MSC Industrial Direct shares by 14.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 17,260 shares of the industrial products company valued at $ 1,557,000 after purchasing an additional 2,225 shares in the last quarter. Royce & Associates LP increased its stake in MSC Industrial Direct shares by 30.8% during the 1st quarter. Royce & Associates LP now owns 713,418 shares of the industrial products company valued at $ 64,343,000 after purchasing an additional 168,037 shares during the last quarter. Allianz Asset Management GmbH increased its stake in the shares of MSC Industrial Direct by 142.7% during the 1st quarter. Allianz Asset Management GmbH now owns 61,342 shares of the industrial products company valued at $ 5,533,000 after purchasing an additional 36,062 shares in the last quarter. Finally, Northern Trust Corp increased its stake in MSC Industrial Direct shares by 5.3% during the first quarter. Northern Trust Corp now owns 499,152 shares of the industrials company valued at $ 45,018,000 after purchasing an additional 25,269 shares in the last quarter. 76.19% of the shares are held by institutional investors.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, along with its subsidiaries, distributes metalworking and maintenance, repair and operation (MRO) products in the United States, Canada, Mexico and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, hand and power tools for machines. , safety and maintenance supplies, plumbing supplies, material handling products, power transmission components and electrical equipment.
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