MSC Industrial Direct (NYSE:MSM) Lifted to Buy at StockNews.com

MSC Industrial Direct (NYSE:MSMGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

MSM has been the subject of several other research reports. Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating and set a $96.00 price target for the company in a research note on Saturday, April 2nd. Robert W. Baird boosted their price target on MSC Industrial Direct from $103.00 to $105.00 in a research note on Thursday, March 31st. Loop Capital boosted their price target on MSC Industrial Direct from $88.00 to $93.00 in a research note on Thursday, March 31st. Finally, KeyCorp boosted their target price on MSC Industrial Direct from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $101.17.

NYSE:MSM traded down $0.43 on Monday, hitting $85.53. 271,218 shares of the company’s stock traded hands, compared to its average volume of 455,223. The company has a market cap of $4.78 billion, a PE ratio of 16.17 and a beta of 1.06. The firm has a 50-day moving average price of $81.40 and a 200-day moving average price of $82.64. MSC Industrial Direct has a 1 year low of $74.20 and a 1 year high of $96.23. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings results on Wednesday, March 30th. The industrial products company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.06. The business had revenue of $862.50 million during the quarter, compared to analysts’ expectations of $856.03 million. MSC Industrial Direct had a return on equity of 24.70% and a net margin of 8.70%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, research analysts forecast that MSC Industrial Direct will post 6.02 EPS for the current fiscal year.

In other news, EVP Steven N. Baruch sold 15,188 shares of the company’s stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $83.95, for a total transaction of $1,275,032.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven N. Baruch sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $85.73, for a total value of $707,272.50. Following the transaction, the executive vice president now owns 12,569 shares of the company’s stock, valued at $1,077,540.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,073 shares of company stock valued at $4,702,915. Corporate insiders own 28.28% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its stake in shares of MSC Industrial Direct by 3.6% in the third quarter. Commonwealth Equity Services LLC now owns 4,110 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 142 shares in the last quarter. Northwest Investment Counselors LLC raised its stake in shares of MSC Industrial Direct by 1.3% in the first quarter. Northwest Investment Counselors LLC now owns 14,302 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 177 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of MSC Industrial Direct by 3.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,112 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 223 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in MSC Industrial Direct by 12.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,139 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 245 shares during the period. Finally, AGF Investments Inc. grew its position in MSC Industrial Direct by 13.4% in the third quarter. AGF Investments Inc. now owns 2,200 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 75.61% of the company’s stock.

MSC Industrial Direct Company Profile (Get Rating)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include 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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