Watsco (NYSE:WSO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Watsco (NYSE:WSO) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $360.00 to $370.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 3.09% from the stock’s current price.

Several other research analysts have also weighed in on the company. Wolfe Research set a $349.00 target price on Watsco in a research report on Tuesday, December 9th. KeyCorp reissued a “sector weight” rating on shares of Watsco in a research note on Friday, December 12th. UBS Group assumed coverage on shares of Watsco in a research report on Monday, January 5th. They set a “neutral” rating and a $370.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Finally, William Blair restated a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $404.14.

Watsco Stock Performance

WSO stock opened at $381.78 on Friday. The firm has a market cap of $15.48 billion, a P/E ratio of 29.83 and a beta of 1.03. Watsco has a 1 year low of $323.05 and a 1 year high of $535.40. The stock has a 50-day simple moving average of $349.42 and a 200-day simple moving average of $389.44.

Watsco (NYSE:WSO) last released its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The firm had revenue of $2.07 billion during the quarter. On average, equities research analysts predict that Watsco will post 14.62 EPS for the current year.

Institutional Investors Weigh In On Watsco

A number of hedge funds have recently bought and sold shares of WSO. Ameritas Advisory Services LLC acquired a new stake in Watsco in the 2nd quarter valued at approximately $26,000. TD Waterhouse Canada Inc. boosted its position in shares of Watsco by 242.9% in the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after acquiring an additional 51 shares during the period. SJS Investment Consulting Inc. grew its stake 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 worth $30,000 after acquiring an additional 71 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in shares of Watsco in the second quarter worth $34,000. Finally, TruNorth Capital Management LLC bought a new stake in Watsco in the 3rd quarter valued at $37,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.