Watsco (WSO) Stock Rating Lowered by Zacks Investment Research

Watsco (NYSE:WSO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Watsco will gain from its industry-leading technologies and estimates 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. However, the company’s performance will be hurt by disruptions caused by recent hurricanes in the United States. Currency volatility, volume issue in Canada and seasonal factors also remain headwinds. The stock has also underperformed the industry over the past year.”

WSO has been the topic of a number of other research reports. KeyCorp restated a “buy” rating on shares of Watsco in a research report on Friday, November 17th. Stephens set a $169.00 price target on Watsco and gave the stock a “hold” rating in a research report on Thursday. Susquehanna Bancshares set a $195.00 target price on Watsco and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Watsco has an average rating of “Hold” and a consensus price target of $170.71.

Shares of Watsco (NYSE WSO) traded down $0.28 during midday trading on Friday, hitting $164.98. The company had a trading volume of 585,500 shares, compared to its average volume of 184,747. The company has a quick ratio of 1.42, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco has a 52 week low of $134.08 and a 52 week high of $182.79. The company has a market capitalization of $5,906.56, a PE ratio of 28.49 and a beta of 0.87.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Watsco had a return on equity of 14.66% and a net margin of 4.80%. The company had revenue of $964.35 million during the quarter, compared to the consensus estimate of $965.85 million. During the same quarter in the previous year, the business posted $0.81 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. research analysts anticipate that Watsco will post 6.64 earnings per share for the current year.

In other Watsco news, SVP Barry S. Logan sold 3,246 shares of Watsco stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the transaction, the senior vice president now owns 15,800 shares in the company, valued at $2,595,940. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.93% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its position in Watsco by 1.7% in the fourth quarter. American International Group Inc. now owns 63,214 shares of the construction company’s stock valued at $10,749,000 after acquiring an additional 1,060 shares during the last quarter. HAP Trading LLC bought a new position in Watsco in the fourth quarter valued at about $1,810,000. Royce & Associates LP bought a new position in Watsco in the fourth quarter valued at about $1,598,000. UBS Asset Management Americas Inc. grew its position in Watsco by 6.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 36,387 shares of the construction company’s stock valued at $6,187,000 after acquiring an additional 2,134 shares during the last quarter. Finally, BlackRock Inc. grew its position in Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after acquiring an additional 105,677 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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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.

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