DA Davidson Lowers MSA Safety Incorporporated (NYSE:MSA) Price Target to $206.00

MSA Safety Incorporporated (NYSE:MSA) had its price target dropped by DA Davidson from $235.00 to $206.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price objective points to a potential upside of 21.36% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Wall Street Zen raised MSA Safety Incorporporated from a “hold” rating to a “strong-buy” rating in a research note on Saturday. B. Riley Financial reissued a “buy” rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Weiss Ratings downgraded shares of MSA Safety Incorporporated from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. began coverage on MSA Safety Incorporporated in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $200.00 price target on the stock. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $200.00.

MSA Safety Incorporporated Trading Down 0.1%

Shares of NYSE MSA traded down $0.20 during trading on Monday, hitting $169.74. 46,498 shares of the company were exchanged, compared to its average volume of 228,831. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.92 and a current ratio of 3.17. The firm has a market capitalization of $6.55 billion, a PE ratio of 22.92 and a beta of 0.97. The company has a fifty day moving average price of $174.71 and a 200-day moving average price of $172.23. MSA Safety Incorporporated has a 12-month low of $151.10 and a 12-month high of $208.92.

MSA Safety Incorporporated (NYSE:MSA) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $463.63 million during the quarter, compared to analyst estimates of $451.28 million. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. MSA Safety Incorporporated’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, equities research analysts expect that MSA Safety Incorporporated will post 8.83 EPS for the current year.

MSA Safety Incorporporated declared that its Board of Directors has initiated a share buyback program on Thursday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Jonathan D. Buck sold 1,100 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total value of $223,828.00. Following the sale, the chief accounting officer directly owned 3,234 shares in the company, valued at $658,054.32. This trade represents a 25.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ruane Cunniff & Goldfarb L.P. acquired a new stake in MSA Safety Incorporporated during the 2nd quarter worth approximately $158,997,000. Madison Asset Management LLC acquired a new stake in shares of MSA Safety Incorporporated during the 4th quarter worth approximately $90,999,000. Norges Bank acquired a new position in shares of MSA Safety Incorporporated during the 4th quarter worth $66,878,000. Natixis Advisors LLC grew its holdings in shares of MSA Safety Incorporporated by 1,447.3% during the 4th quarter. Natixis Advisors LLC now owns 363,177 shares of the industrial products company’s stock valued at $58,159,000 after purchasing an additional 339,705 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in MSA Safety Incorporporated by 4,827.4% during the 3rd quarter. Victory Capital Management Inc. now owns 338,411 shares of the industrial products company’s stock worth $58,230,000 after acquiring an additional 331,543 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.