Weiss Ratings Reaffirms “Hold (C)” Rating for Watsco (NYSE:WSO)

Watsco (NYSE:WSO)‘s stock had its “hold (c)” rating restated by Weiss Ratings in a research note issued on Thursday,Weiss Ratings reports.

Several other analysts have also commented on the company. Mizuho dropped their price objective on Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Morgan Stanley dropped their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. William Blair reissued a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Watsco from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Finally, UBS Group dropped their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Watsco has a consensus rating of “Hold” and an average price target of $440.83.

Watsco Stock Up 2.5%

Shares of WSO stock opened at $367.16 on Thursday. The stock has a market cap of $14.89 billion, a PE ratio of 28.68 and a beta of 0.94. The business has a 50-day simple moving average of $387.80 and a 200-day simple moving average of $431.12. Watsco has a 52-week low of $350.00 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 29th. The construction company reported $3.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.60 by ($0.62). The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.18 billion. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $4.22 EPS. Sell-side analysts anticipate that Watsco will post 14.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Watsco

A number of hedge funds have recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in shares of Watsco in the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Watsco in the second quarter valued at approximately $26,000. TCTC Holdings LLC grew its position in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. SJS Investment Consulting Inc. grew its position in shares of Watsco by 2,366.7% in the third quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Watsco in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.