MSC Industrial Direct (NYSE:MSM) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of MSC Industrial Direct (NYSE:MSM) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “MSC Industrial Direct Co., Inc. is one of the premier distributors of Metalworking and Maintenance, Repair and Operations (MRO) supplies to industrial customers throughout the United States. MSC distributes approximately 590,000 industrial products from approximately 3,000 suppliers to approximately 350,000 customers. MSC reaches its customers through a combination of approximately 27 million direct-mail catalogs and CD-ROMs, 96 branch sales offices, 927 sales people, the Internet and associations with some of the world’s most prominent B2B e-commerce portals. “

MSM has been the topic of a number of other research reports. Gordon Haskett downgraded shares of MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price objective on the stock. in a research report on Monday, June 10th. Northcoast Research downgraded shares of MSC Industrial Direct from a buy rating to a neutral rating and lowered their price objective for the company from $89.00 to $74.00 in a research report on Friday, July 12th. Stephens set a $82.00 price objective on shares of MSC Industrial Direct and gave the company a hold rating in a research report on Monday, July 8th. Raymond James lowered their price objective on shares of MSC Industrial Direct from $90.00 to $80.00 and set an outperform rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Co set a $70.00 price objective on shares of MSC Industrial Direct and gave the company a market perform rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $80.70.

Shares of NYSE MSM traded up $0.23 during midday trading on Thursday, hitting $72.22. The stock had a trading volume of 567,194 shares, compared to its average volume of 435,534. The business’s 50 day moving average is $68.76 and its 200-day moving average is $75.50. The company has a market cap of $3.97 billion, a P/E ratio of 14.22, a PEG ratio of 1.06 and a beta of 0.91. MSC Industrial Direct has a 52 week low of $64.59 and a 52 week high of $90.25. The company has a quick ratio of 1.35, a current ratio of 2.50 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.05). The firm had revenue of $866.50 million during the quarter, compared to the consensus estimate of $881.62 million. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. As a group, analysts expect that MSC Industrial Direct will post 5.24 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in MSM. Steward Partners Investment Advisory LLC purchased a new stake in shares of MSC Industrial Direct in the second quarter worth $53,000. Point72 Asset Management L.P. purchased a new stake in shares of MSC Industrial Direct in the second quarter worth $89,000. NumerixS Investment Technologies Inc increased its stake in shares of MSC Industrial Direct by 71.4% in the first quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 500 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of MSC Industrial Direct in the second quarter worth $106,000. Finally, ETF Managers Group LLC increased its stake in shares of MSC Industrial Direct by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 142 shares in the last quarter. 75.36% of the stock is owned by hedge funds and other 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 in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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