MSC Industrial Direct (NYSE:MSM) Price Target Lowered to $74.00 at Loop Capital
Loop Capital has lowered its price target for MSC Industrial Direct (NYSE:MSM) from $83.00 to $74.00, maintaining a "hold" rating. This adjustment suggests a potential upside of 3.95% from the current price. Other brokerages have also revised their targets, with Robert W. Baird setting a new target of $84.00. The stock recently traded down 5.3% to $71.19, with a consensus rating of "Hold" and an average target price of $82.20. MSC Industrial Direct reported earnings of $0.72 per share, exceeding estimates, but revenue declined 4.7% year-over-year.
MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price objective lowered by stock analysts at Loop Capital from $83.00 to $74.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Loop Capital's target price indicates a potential upside of 3.95% from the company's current price.
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Several other brokerages have also commented on MSM. Robert W. Baird cut their price target on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday. Wolfe Research initiated coverage on MSC Industrial Direct in a report on Thursday, January 16th. They set an "outperform" rating and a $95.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $82.20.
Check Out Our Latest Research Report on MSC Industrial Direct
MSC Industrial Direct Trading Down 5.3 %
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NYSE MSM traded down $3.97 during trading on Friday, hitting $71.19. The stock had a trading volume of 986,613 shares, compared to its average volume of 649,841. MSC Industrial Direct has a one year low of $70.13 and a one year high of $96.13. The stock has a 50 day simple moving average of $79.74 and a 200 day simple moving average of $81.42. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 16.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Sell-side analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current year.
Institutional Investors Weigh In On MSC Industrial Direct
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A number of institutional investors and hedge funds have recently modified their holdings of MSM. Mackenzie Financial Corp acquired a new stake in MSC Industrial Direct during the 4th quarter valued at approximately $609,000. Vise Technologies Inc. lifted its position in MSC Industrial Direct by 38.8% during the fourth quarter. Vise Technologies Inc. now owns 4,319 shares of the industrial products company's stock valued at $323,000 after purchasing an additional 1,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MSC Industrial Direct by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,557 shares of the industrial products company's stock valued at $20,880,000 after purchasing an additional 48,411 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in MSC Industrial Direct by 312.5% in the fourth quarter. Voloridge Investment Management LLC now owns 236,111 shares of the industrial products company's stock valued at $17,635,000 after purchasing an additional 178,870 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in MSC Industrial Direct during the 4th quarter worth about $433,000. Institutional investors and hedge funds own 79.26% of the company's stock.
About MSC Industrial Direct
(Get Free Report)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, the United Kingdom, and internationally. The company's 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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