Watsco (WSO) Earns Neutral Rating from Analysts at Buckingham Research

Stock analysts at Buckingham Research initiated coverage on shares of Watsco (NYSE:WSO) in a research note issued on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the construction company’s stock.

WSO has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Monday, June 25th. ValuEngine cut shares of Watsco from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. JPMorgan Chase & Co. cut shares of Watsco from a “neutral” rating to an “underweight” rating and increased their price target for the company from $166.00 to $176.00 in a report on Friday, September 21st. Robert W. Baird cut shares of Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Tuesday, July 3rd. Finally, Seaport Global Securities cut shares of Watsco from a “buy” rating to a “neutral” rating in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $184.00.

NYSE:WSO opened at $171.99 on Tuesday. Watsco has a 52 week low of $155.57 and a 52 week high of $192.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.43 and a current ratio of 3.10. The company has a market cap of $6.66 billion, a PE ratio of 31.39 and a beta of 0.71.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 EPS for the quarter, missing the Zacks’ consensus estimate of $2.47 by ($0.07). Watsco had a net margin of 5.05% and a return on equity of 14.26%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Watsco will post 6.67 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of WSO. Charles Schwab Investment Advisory Inc. bought a new position in Watsco during the second quarter valued at approximately $111,258,000. United Services Automobile Association raised its position in Watsco by 5,047.4% in the second quarter. United Services Automobile Association now owns 253,819 shares of the construction company’s stock worth $15,176,000 after acquiring an additional 248,888 shares during the period. Caledonia Investments PLC bought a new position in Watsco in the second quarter worth approximately $27,986,000. BlackRock Inc. raised its position in Watsco by 2.7% in the second quarter. BlackRock Inc. now owns 3,727,767 shares of the construction company’s stock worth $664,588,000 after acquiring an additional 99,687 shares during the period. Finally, First Quadrant L P CA raised its position in Watsco by 97,616.9% in the second quarter. First Quadrant L P CA now owns 69,379 shares of the construction company’s stock worth $12,369,000 after acquiring an additional 69,308 shares during the period. Institutional investors own 83.92% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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