MSC Industrial Direct (NYSE:MSM) Stock Rating Upgraded by Zacks Investment Research

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. “

Other equities research analysts also recently issued research reports about the company. Raymond James dropped their target price on MSC Industrial Direct from $90.00 to $80.00 and set an outperform rating for the company in a report on Thursday, July 11th. Northcoast Research downgraded MSC Industrial Direct from a buy rating to a neutral rating and dropped their target price for the stock from $89.00 to $74.00 in a report on Friday, July 12th. Buckingham Research dropped their target price on MSC Industrial Direct from $77.00 to $70.00 and set a neutral rating for the company in a report on Thursday, July 11th. Stephens set a $82.00 price target on MSC Industrial Direct and gave the stock a hold rating in a research report on Monday, July 8th. Finally, Gordon Haskett cut MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price target on the stock. in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $80.70.



MSM opened at $72.22 on Thursday. MSC Industrial Direct has a fifty-two week low of $64.59 and a fifty-two week high of $90.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.50. The company has a market capitalization of $3.97 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.06 and a beta of 0.91. The stock has a fifty day moving average of $68.77 and a 200-day moving average of $75.44.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Treasurer of the State of North Carolina increased its position in shares of MSC Industrial Direct by 8.3% in the second quarter. Treasurer of the State of North Carolina now owns 21,478 shares of the industrial products company’s stock worth $1,595,000 after purchasing an additional 1,640 shares during the period. Nomura Holdings Inc. bought a new position in shares of MSC Industrial Direct in the second quarter worth $613,000. Natixis bought a new position in shares of MSC Industrial Direct in the second quarter worth $2,813,000. Royal Bank of Canada increased its position in shares of MSC Industrial Direct by 2.9% in the second quarter. Royal Bank of Canada now owns 182,929 shares of the industrial products company’s stock worth $13,583,000 after purchasing an additional 5,237 shares during the period. Finally, UBS Group AG increased its position in shares of MSC Industrial Direct by 109.8% in the second quarter. UBS Group AG now owns 183,281 shares of the industrial products company’s stock worth $13,611,000 after purchasing an additional 95,906 shares during the period. Institutional investors own 75.36% 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 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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