Stephens Analysts Give MSC Industrial Direct (MSM) a $114.00 Price Target

Stephens set a $114.00 price target on MSC Industrial Direct (NYSE:MSM) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the industrial products company’s stock.

Several other analysts have also recently commented on the company. Susquehanna Bancshares reissued a hold rating and issued a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Zacks Investment Research raised MSC Industrial Direct from a hold rating to a buy rating and set a $108.00 price target for the company in a report on Wednesday, January 3rd. Credit Suisse Group reissued an outperform rating and issued a $112.00 price target (up from $100.00) on shares of MSC Industrial Direct in a report on Tuesday. UBS Group cut MSC Industrial Direct from a strong-buy rating to an outperform rating in a report on Thursday, January 4th. Finally, Raymond James Financial reissued an outperform rating and issued a $105.00 price target (up from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $95.00.

Shares of MSC Industrial Direct (MSM) traded up $2.62 during mid-day trading on Wednesday, hitting $95.15. The company’s stock had a trading volume of 1,546,700 shares, compared to its average volume of 558,362. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70. The stock has a market cap of $5,370.00, a P/E ratio of 22.93, a P/E/G ratio of 1.90 and a beta of 0.67. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The company had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. research analysts expect that MSC Industrial Direct will post 4.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be issued a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, January 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 46.27%.

MSC Industrial Direct declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In related news, EVP Steven N. Baruch sold 5,762 shares of MSC Industrial Direct stock in a transaction on Monday, November 20th. The stock was sold at an average price of $81.25, for a total transaction of $468,162.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell Jacobson sold 13,582 shares of MSC Industrial Direct stock in a transaction on Monday, November 6th. The stock was sold at an average price of $81.91, for a total value of $1,112,501.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,541 shares of company stock valued at $18,264,812. 31.38% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of MSM. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MSC Industrial Direct by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 123 shares during the last quarter. Principal Financial Group Inc. raised its holdings in MSC Industrial Direct by 4.6% during the second quarter. Principal Financial Group Inc. now owns 194,662 shares of the industrial products company’s stock worth $16,734,000 after purchasing an additional 8,552 shares during the last quarter. Swiss National Bank raised its holdings in MSC Industrial Direct by 1.5% during the second quarter. Swiss National Bank now owns 74,700 shares of the industrial products company’s stock worth $6,421,000 after purchasing an additional 1,100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in MSC Industrial Direct by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,580 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 29 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in MSC Industrial Direct during the second quarter worth $214,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

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MSC Industrial Direct Company Profile

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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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