MSC Industrial Direct Company, Inc. (NYSE:MSM)‘s stock had its “hold” rating reaffirmed by investment analysts at Stifel Nicolaus in a report issued on Friday. They currently have a $84.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 2.03% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Credit Suisse Group reduced their target price on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, September 27th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down previously from $92.00) on shares of MSC Industrial Direct in a research note on Thursday, July 13th. BMO Capital Markets dropped their price objective on shares of MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Finally, Susquehanna Bancshares Inc initiated coverage on shares of MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $89.29.
Shares of MSC Industrial Direct (MSM) traded down $0.57 during trading hours on Friday, hitting $82.33. 905,449 shares of the company were exchanged, compared to its average volume of 644,433. The firm has a market cap of $4,687.62, a price-to-earnings ratio of 20.38 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The business had revenue of $753.80 million during the quarter, compared to the consensus estimate of $745.80 million. During the same quarter last year, the firm earned $1.02 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts expect that MSC Industrial Direct will post 4.44 EPS for the current year.
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A number of large investors have recently modified their holdings of MSM. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 valued at $132,000 after acquiring an additional 123 shares during the period. PNC Financial Services Group Inc. boosted its position 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 valued at $136,000 after acquiring an additional 8 shares during the period. QS Investors LLC boosted its position in shares of MSC Industrial Direct by 0.5% in the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in MSC Industrial Direct by 1,373.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 2,060 shares in the last quarter. Finally, Numeric Investors LLC purchased a new stake in MSC Industrial Direct in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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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