MSC Industrial Direct (NYSE:MSM) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $112.35 and traded as high as $129.41. MSC Industrial Direct shares last traded at $128.5180, with a volume of 1,249,144 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MSM shares. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a research note on Wednesday, July 1st. DA Davidson lifted their price objective on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They set a “buy” rating and a $155.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct has an average rating of “Moderate Buy” and an average price target of $123.43.

MSC Industrial Direct Stock Performance

The stock has a 50 day moving average price of $121.80 and a two-hundred day moving average price of $112.47. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 31.40 and a beta of 0.82.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that MSC Industrial Direct Company, Inc. will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MSM. Versant Capital Management Inc raised its holdings in shares of MSC Industrial Direct by 28.5% during the third quarter. Versant Capital Management Inc now owns 2,888 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 641 shares during the period. QRG Capital Management Inc. acquired a new position in MSC Industrial Direct in the 2nd quarter worth $234,000. Envestnet Asset Management Inc. boosted its holdings in shares of MSC Industrial Direct by 16.1% during the second quarter. Envestnet Asset Management Inc. now owns 57,721 shares of the industrial products company’s stock worth $6,866,000 after acquiring an additional 8,002 shares during the period. State Street Corp increased its stake in shares of MSC Industrial Direct by 3.7% during the second quarter. State Street Corp now owns 1,463,620 shares of the industrial products company’s stock worth $174,098,000 after purchasing an additional 52,860 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of MSC Industrial Direct by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 33,744 shares of the industrial products company’s stock worth $4,014,000 after purchasing an additional 1,299 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.