Zacks Investment Research Upgrades Watsco (WSO) to “Buy”

Zacks Investment Research upgraded shares of Watsco (NYSE:WSO) from a hold rating to a buy rating in a research note published on Monday. They currently have $198.00 target price on the construction company’s stock.

According to Zacks, “Watsco will gain from its industry-leading technologies and estimates the e-commerce sales to touch $1 billion this year. Watsco continues to transform its business into the digital age by investing in scalable platforms for mobile apps, e-commerce, business intelligence and supply-chain optimization. Its technology evolution continues to make progress. Further, its focus on strategic acquisitions, cost-cutting initiatives and growth potential in the replacement market will drive growth.”

WSO has been the topic of a number of other research reports. KeyCorp restated a buy rating on shares of Watsco in a research note on Friday, November 17th. Morgan Stanley upped their price target on shares of Watsco from $151.00 to $156.00 and gave the company an underweight rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Watsco presently has a consensus rating of Buy and a consensus price target of $166.20.

Watsco (WSO) opened at $165.26 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.42 and a current ratio of 3.13. The company has a market cap of $5,880.00, a P/E ratio of 30.32 and a beta of 0.87. Watsco has a 52 week low of $134.08 and a 52 week high of $182.79.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.10). The firm had revenue of $964.35 million for the quarter, compared to the consensus estimate of $965.85 million. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. analysts forecast that Watsco will post 5.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.03%. Watsco’s payout ratio is 91.74%.

In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.93% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. increased its stake in Watsco by 1.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,096 shares of the construction company’s stock valued at $1,403,000 after purchasing an additional 146 shares in the last quarter. Brookstone Capital Management increased its stake in Watsco by 17.1% during the 3rd quarter. Brookstone Capital Management now owns 2,155 shares of the construction company’s stock valued at $347,000 after purchasing an additional 314 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Watsco by 1.7% in the third quarter. Prudential Financial Inc. now owns 19,248 shares of the construction company’s stock worth $3,100,000 after acquiring an additional 330 shares during the period. Pennsylvania Trust Co increased its stake in shares of Watsco by 1.6% in the fourth quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock worth $5,122,000 after acquiring an additional 463 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Watsco by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 64,773 shares of the construction company’s stock worth $9,988,000 after acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Watsco (WSO) to “Buy”” was originally reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.com-unik.info/2018/02/09/zacks-investment-research-upgrades-watsco-wso-to-buy.html.

About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Get a free copy of the Zacks research report on Watsco (WSO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit