MSC Industrial Direct (NYSE:MSM) Stock Moved Up to Strong-Buy by Barclays

MSC Industrial Direct (NYSE:MSM) was upgraded by research analysts at Barclays to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Wolfe Research began coverage on shares of MSC Industrial Direct in a research report on Tuesday, September 15th. They set a “peer perform” rating for the company. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. KeyCorp increased their price target on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Rothschild & Co Redburn initiated coverage on shares of MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.62.

MSC Industrial Direct Trading Up 2.6%

NYSE MSM opened at $132.00 on Tuesday. MSC Industrial Direct has a 12 month low of $78.80 and a 12 month high of $132.55. The company has a 50-day moving average of $122.63 and a 200-day moving average of $114.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The company has a market cap of $7.37 billion, a P/E ratio of 31.88 and a beta of 0.82.

Hedge Funds Weigh In On MSC Industrial Direct

Several hedge funds and other institutional investors have recently modified their holdings of MSM. Elevation Wealth Partners LLC lifted its stake in shares of MSC Industrial Direct by 89.9% during the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of MSC Industrial Direct by 60.3% in the second quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock valued at $38,000 after buying an additional 120 shares in the last quarter. First Horizon Corp grew its stake in shares of MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after buying an additional 201 shares in the last quarter. Compass Financial Management LLC acquired a new stake in shares of MSC Industrial Direct in the second quarter valued at about $143,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of MSC Industrial Direct during the 1st quarter valued at about $119,000. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.