MSC Industrial Direct (NYSE:MSM) PT Lowered to $80.00

MSC Industrial Direct (NYSE:MSM) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $81.00 to $80.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 1.90% from the company’s previous close.

Several other research firms have also weighed in on MSM. Baird R W lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens reiterated an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a report on Friday, June 14th. KeyCorp lowered MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 17th. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Finally, Robert W. Baird lowered their price target on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus price target of $90.20.

MSC Industrial Direct Price Performance

MSM stock opened at $78.51 on Wednesday. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $105.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. The firm has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. The business has a 50 day simple moving average of $86.07 and a 200-day simple moving average of $93.57.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. The business had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the company earned $1.74 EPS. Equities research analysts anticipate that MSC Industrial Direct will post 4.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC acquired a new position in shares of MSC Industrial Direct in the third quarter worth $490,000. Lazard Asset Management LLC raised its position in MSC Industrial Direct by 330.4% in the 3rd quarter. Lazard Asset Management LLC now owns 108,131 shares of the industrial products company’s stock valued at $10,612,000 after purchasing an additional 83,009 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of MSC Industrial Direct in the 3rd quarter valued at about $550,000. WealthPlan Investment Management LLC boosted its stake in shares of MSC Industrial Direct by 332.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 124,768 shares of the industrial products company’s stock valued at $12,246,000 after buying an additional 95,887 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of MSC Industrial Direct by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 36,239 shares of the industrial products company’s stock worth $3,557,000 after buying an additional 2,254 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

About MSC Industrial Direct

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.