Robert W. Baird Increases Watsco (NYSE:WSO) Price Target to $460.00

Watsco (NYSE:WSO) had its price objective lifted by Robert W. Baird from $420.00 to $460.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target would indicate a potential upside of 3.79% from the company’s current price.

Watsco Stock Performance

Shares of NYSE:WSO opened at $443.21 on Thursday. The firm has a market cap of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90. The firm’s 50 day simple moving average is $412.36 and its 200-day simple moving average is $399.76. Watsco has a one year low of $315.17 and a one year high of $451.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 2.92.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $2.83 earnings per share. As a group, equities analysts predict that Watsco will post 14.19 EPS for the current year.

Institutional Investors Weigh In On Watsco

Institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the fourth quarter valued at about $25,000. First PREMIER Bank bought a new stake in Watsco during the first quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new stake in Watsco during the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new stake in Watsco during the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC bought a new stake in Watsco during the fourth quarter valued at about $30,000. Institutional investors own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.