MSC Industrial Direct Company, Inc. (MSM) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $83.00 price target on the industrial products company’s stock.
According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
Several other equities analysts have also recently commented on MSM. Susquehanna Bancshares Inc began coverage on shares of MSC Industrial Direct in a research report on Monday, September 25th. They issued a neutral rating and a $77.00 price target for the company. TheStreet cut shares of MSC Industrial Direct from a b rating to a c+ rating in a research report on Wednesday, August 16th. KeyCorp reissued a hold rating on shares of MSC Industrial Direct in a research report on Sunday, September 17th. Northcoast Research initiated coverage on shares of MSC Industrial Direct in a research report on Tuesday, July 25th. They issued a neutral rating for the company. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $88.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $89.38.
MSC Industrial Direct (NYSE:MSM) opened at 75.57 on Wednesday. The company has a 50-day moving average of $69.45 and a 200-day moving average of $83.70. The company has a market cap of $4.30 billion, a P/E ratio of 18.85 and a beta of 0.51. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. During the same quarter last year, the company posted $1.05 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that MSC Industrial Direct will post $3.97 EPS for the current year.
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In related news, Director Philip Peller purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the purchase, the director now directly owns 2,422 shares of the company’s stock, valued at $174,384. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 31.28% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 123 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 8 shares in the last quarter. QS Investors LLC raised its stake in MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 8 shares in the last quarter. Invictus RG raised its stake in MSC Industrial Direct by 796.7% during the 1st quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in MSC Industrial Direct during the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 75.58% of the company’s stock.
About MSC Industrial Direct
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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