MSC Industrial Direct Co. Forecasted to Earn FY2017 Earnings of $4.00 Per Share (MSM)
MSC Industrial Direct Co. (NYSE:MSM) – Equities research analysts at KeyCorp boosted their FY2017 earnings per share estimates for shares of MSC Industrial Direct in a report released on Sunday. KeyCorp analyst R. Cieslak now anticipates that the brokerage will post earnings per share of $4.00 for the year, up from their prior estimate of $3.90.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Credit Suisse Group AG cut MSC Industrial Direct from a “neutral” rating to an “underperform” rating and set a $66.00 target price for the company. in a research report on Friday, June 17th. Macquarie began coverage on MSC Industrial Direct in a report on Thursday, August 25th. They issued a “neutral” rating and a $80.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $78.00 price objective (down from $80.00) on shares of MSC Industrial Direct in a report on Thursday, July 7th. Finally, Barclays PLC upped their price objective on MSC Industrial Direct from $64.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.44.
MSC Industrial Direct (NYSE:MSM) opened at 74.10 on Wednesday. The company has a market capitalization of $4.55 billion, a P/E ratio of 19.98 and a beta of 0.70. MSC Industrial Direct has a 52-week low of $54.19 and a 52-week high of $78.35. The firm has a 50-day moving average price of $72.96 and a 200 day moving average price of $73.54.
A number of hedge funds have recently modified their holdings of the stock. Evercore Wealth Management LLC increased its position in MSC Industrial Direct by 6.1% in the second quarter. Evercore Wealth Management LLC now owns 1,433 shares of the company’s stock worth $101,000 after buying an additional 83 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in MSC Industrial Direct during the second quarter worth about $103,000. PNC Financial Services Group Inc. increased its position in MSC Industrial Direct by 249.1% in the second quarter. PNC Financial Services Group Inc. now owns 2,063 shares of the company’s stock worth $146,000 after buying an additional 1,472 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in MSC Industrial Direct during the second quarter worth about $148,000. Finally, Invictus RG purchased a new position in MSC Industrial Direct during the second quarter worth about $154,000. Institutional investors and hedge funds own 78.44% of the company’s stock.
In other MSC Industrial Direct news, SVP Steve Armstrong sold 3,732 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $73.35, for a total transaction of $273,742.20. Following the sale, the senior vice president now directly owns 16,144 shares in the company, valued at approximately $1,184,162.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 31.75% of the company’s stock.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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