Watsco (NYSE:WSO) Price Target Raised to $460.00 at Robert W. Baird

Watsco (NYSE:WSO) had its price target increased by stock analysts at Robert W. Baird from $420.00 to $460.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target suggests a potential upside of 4.40% from the company’s current price.

Watsco Price Performance

NYSE WSO opened at $440.60 on Thursday. The company has a 50 day simple moving average of $410.19 and a 200-day simple moving average of $399.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 32.25 and a beta of 0.90. Watsco has a 52-week low of $315.17 and a 52-week high of $451.29.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. Watsco’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. Equities research analysts predict that Watsco will post 14.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Watsco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. bought a new position in Watsco during the fourth quarter valued at approximately $25,000. First PREMIER Bank bought a new position in shares of Watsco in the first quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new position in shares of Watsco in the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Watsco in the fourth quarter valued at approximately $28,000. Finally, Rise Advisors LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $30,000. Institutional investors own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.