Zacks Investment Research lowered shares of MSC Industrial Direct (NYSE:MSM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “MSC Industrial Direct Co., Inc. is one of the premier distributors of Metalworking and Maintenance, Repair and Operations (MRO) supplies to industrial customers throughout the United States. MSC distributes approximately 590,000 industrial products from approximately 3,000 suppliers to approximately 350,000 customers. MSC reaches its customers through a combination of approximately 27 million direct-mail catalogs and CD-ROMs, 96 branch sales offices, 927 sales people, the Internet and associations with some of the world’s most prominent B2B e-commerce portals. “
Other research analysts also recently issued research reports about the stock. Stephens set a $114.00 target price on shares of MSC Industrial Direct and gave the company a buy rating in a research report on Wednesday, January 10th. Susquehanna Bancshares reissued a hold rating and set a $92.00 target price on shares of MSC Industrial Direct in a research report on Wednesday, January 3rd. Gabelli downgraded shares of MSC Industrial Direct from a buy rating to a hold rating and set a $99.00 target price on the stock. in a research report on Friday. TheStreet raised shares of MSC Industrial Direct from a c+ rating to a b- rating in a research report on Tuesday, November 28th. Finally, Raymond James Financial reaffirmed an outperform rating and issued a $105.00 price objective (up previously from $95.00) on shares of MSC Industrial Direct in a research report on Thursday, January 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $96.92.
MSC Industrial Direct (MSM) opened at $93.79 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. The company has a market cap of $5,398.89, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.39 and a beta of 0.64. MSC Industrial Direct has a 12-month low of $65.42 and a 12-month high of $104.59.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The business had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. equities research analysts expect that MSC Industrial Direct will post 5.06 earnings per share for the current fiscal year.
MSC Industrial Direct declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 19,162 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $94.98, for a total transaction of $1,820,006.76. Following the sale, the senior vice president now owns 13,432 shares of the company’s stock, valued at approximately $1,275,771.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Erik Gershwind sold 37,703 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $94.16, for a total transaction of $3,550,114.48. Following the sale, the chief executive officer now directly owns 117,885 shares in the company, valued at approximately $11,100,051.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 783,437 shares of company stock worth $74,083,049. Insiders own 31.38% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MSM. Delpha Capital Management LLC purchased a new stake in MSC Industrial Direct during the 4th quarter worth approximately $111,000. Cerebellum GP LLC purchased a new stake in MSC Industrial Direct during the 4th quarter worth approximately $127,000. Captrust Financial Advisors purchased a new stake in MSC Industrial Direct during the 4th quarter worth approximately $129,000. Cutler Group LP grew its position in MSC Industrial Direct by 457.8% during the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Zions Bancorporation purchased a new stake in MSC Industrial Direct during the 3rd quarter worth approximately $150,000. 75.35% of the stock is currently owned by institutional investors.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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