Watsco, Inc. (WSO) Receives Buy Rating from Robert W. Baird
Watsco, Inc. (NYSE:WSO)‘s stock had its “buy” rating restated by analysts at Robert W. Baird in a report issued on Friday. They presently have a $163.00 target price on the construction company’s stock. Robert W. Baird’s target price would indicate a potential upside of 10.61% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley reissued an “underweight” rating and issued a $141.00 target price (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Wolfe Research began coverage on shares of Watsco in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $176.00 target price (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $163.17.
Watsco (NYSE WSO) opened at 147.36 on Friday. The firm has a 50-day moving average of $148.48 and a 200 day moving average of $146.23. The firm has a market cap of $4.82 billion, a P/E ratio of 27.25 and a beta of 0.83. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, analysts predict that Watsco will post $5.78 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its stake in shares of Watsco by 13.6% in the second quarter. Lord Abbett & CO. LLC now owns 129,200 shares of the construction company’s stock worth $19,923,000 after buying an additional 15,500 shares in the last quarter. Navellier & Associates Inc increased its stake in shares of Watsco by 30.7% in the second quarter. Navellier & Associates Inc now owns 14,524 shares of the construction company’s stock worth $2,240,000 after buying an additional 3,410 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Watsco during the second quarter worth $1,094,000. Ameritas Investment Partners Inc. increased its stake in shares of Watsco by 1.6% in the second quarter. Ameritas Investment Partners Inc. now owns 9,096 shares of the construction company’s stock worth $1,403,000 after buying an additional 146 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its stake in shares of Watsco by 951.0% in the second quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock worth $52,745,000 after buying an additional 309,509 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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