MSC Industrial Direct Company, Inc. (NYSE:MSM) had its price target decreased by equities researchers at Credit Suisse Group from $100.00 to $93.00 in a report released on Thursday, July 13th. The firm currently has an “outperform” rating on the industrial products company’s stock. Credit Suisse Group’s price target suggests a potential upside of 33.37% from the company’s current price.
Several other equities research analysts also recently weighed in on MSM. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Wednesday, March 15th. KeyCorp restated a “sector weight” rating on shares of MSC Industrial Direct in a report on Tuesday, April 4th. Barclays PLC restated a “sell” rating and set a $85.00 price objective on shares of MSC Industrial Direct in a report on Friday, April 7th. Raymond James Financial, Inc. upgraded MSC Industrial Direct from a “market perform” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, April 19th. Finally, J P Morgan Chase & Co assumed coverage on MSC Industrial Direct in a report on Friday, June 2nd. They set an “overweight” rating and a $91.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $90.85.
MSC Industrial Direct (MSM) traded up 0.32% during trading on Thursday, hitting $69.73. The stock had a trading volume of 308,440 shares. MSC Industrial Direct has a 12 month low of $68.43 and a 12 month high of $105.70. The stock has a 50 day moving average price of $76.76 and a 200-day moving average price of $90.34. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 17.39 and a beta of 0.50.
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 for the quarter, hitting the consensus estimate of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The firm had revenue of $743.90 million for the quarter, compared to the consensus estimate of $744.49 million. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that MSC Industrial Direct will post $3.98 EPS for the current year.
In other MSC Industrial Direct news, Director Philip Peller acquired 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average price of $72.00 per share, with a total value of $72,000.00. Following the transaction, the director now directly owns 2,422 shares of the company’s stock, valued at $174,384. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 31.28% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC boosted its stake in MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock worth $112,000 after buying an additional 37 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake 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 worth $136,000 after buying an additional 8 shares in the last quarter. Simplex Trading LLC purchased a new stake in shares of MSC Industrial Direct during the first quarter worth approximately $139,000. Finally, Invictus RG boosted its stake 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 worth $167,000 after buying an additional 1,442 shares in the last quarter. 76.83% of the stock is 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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