MSC Industrial Direct (NYSE:MSM) PT Lowered to $75.00

MSC Industrial Direct (NYSE:MSM) had its target price dropped by equities researchers at Loop Capital from $80.00 to $75.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Loop Capital’s price objective would suggest a potential downside of 4.47% from the company’s current price.

MSM has been the subject of several other research reports. Baird R W downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Robert W. Baird dropped their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Stephens reissued an “overweight” rating and set a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Stock Down 1.9 %

MSC Industrial Direct stock opened at $78.51 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. The firm’s fifty day moving average is $86.07 and its 200 day moving average is $93.57. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, meeting the consensus estimate of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The firm had revenue of $979.40 million for the quarter, compared to analyst estimates of $979.10 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that MSC Industrial Direct will post 4.89 EPS for the current fiscal year.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of MSC Industrial Direct in the 4th quarter worth approximately $56,088,000. Hennessy Advisors Inc. bought a new position in MSC Industrial Direct in the 4th quarter valued at $21,649,000. Vanguard Group Inc. increased its position in shares of MSC Industrial Direct by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock valued at $472,790,000 after purchasing an additional 197,193 shares during the last quarter. Swedbank AB bought a new stake in shares of MSC Industrial Direct during the 1st quarter worth $16,571,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of MSC Industrial Direct by 23.0% in the 4th quarter. Pacer Advisors Inc. now owns 605,437 shares of the industrial products company’s stock worth $61,307,000 after buying an additional 113,068 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.