MSC Industrial Direct (NYSE:MSM) Downgraded to “Market Perform” at Raymond James

Raymond James downgraded shares of MSC Industrial Direct (NYSE:MSM) from an outperform rating to a market perform rating in a research report released on Thursday morning, BenzingaRatingsTable reports.

Several other equities research analysts have also recently issued reports on MSM. Northcoast Research cut MSC Industrial Direct from a buy rating to a neutral rating and cut their price target for the company from $89.00 to $74.00 in a research note on Friday, July 12th. Stephens set a $82.00 price target on MSC Industrial Direct and gave the company a hold rating in a research note on Monday, July 8th. Wells Fargo & Co set a $70.00 price target on MSC Industrial Direct and gave the company a market perform rating in a research note on Thursday, July 11th. Gordon Haskett cut MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price target for the company. in a research note on Monday, June 10th. Finally, Buckingham Research cut their price target on MSC Industrial Direct from $77.00 to $70.00 and set a neutral rating for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $80.70.

Shares of NYSE:MSM traded up $0.23 during trading on Thursday, reaching $72.22. 567,194 shares of the stock were exchanged, compared to its average volume of 435,534. The company has a current ratio of 2.50, a quick ratio of 1.35 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.97 billion, a PE ratio of 14.22, a PEG ratio of 1.06 and a beta of 0.91. The stock has a 50-day moving average price of $68.76 and a 200-day moving average price of $75.50. MSC Industrial Direct has a 12 month low of $64.59 and a 12 month high of $90.25.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.05). The company had revenue of $866.50 million during the quarter, compared to the consensus estimate of $881.62 million. MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. On average, sell-side analysts expect that MSC Industrial Direct will post 5.24 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSM. Hamlin Capital Management LLC bought a new stake in MSC Industrial Direct during the second quarter worth $52,364,000. Fiduciary Management Inc. WI lifted its stake in MSC Industrial Direct by 47.2% during the second quarter. Fiduciary Management Inc. WI now owns 671,263 shares of the industrial products company’s stock worth $49,848,000 after purchasing an additional 215,238 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in MSC Industrial Direct during the second quarter worth $12,402,000. Paradice Investment Management LLC lifted its stake in MSC Industrial Direct by 23.7% during the second quarter. Paradice Investment Management LLC now owns 724,838 shares of the industrial products company’s stock worth $53,826,000 after purchasing an additional 138,639 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in MSC Industrial Direct during the first quarter worth $11,422,000. Hedge funds and other institutional investors own 75.36% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, 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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