MSC Industrial Direct’s (MSM) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in a report released on Tuesday.

Several other research analysts have also recently commented on MSM. J P Morgan Chase & Co initiated coverage on MSC Industrial Direct in a research note on Friday, June 2nd. They set an overweight rating and a $91.00 target price for the company. Zacks Investment Research raised MSC Industrial Direct from a hold rating to a buy rating and set a $93.00 target price for the company in a research note on Thursday, June 8th. Stifel Nicolaus reissued a hold rating and set a $88.00 target price (down from $92.00) on shares of MSC Industrial Direct in a research note on Monday, June 12th. BidaskClub raised MSC Industrial Direct from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group lowered their target price on MSC Industrial Direct from $100.00 to $93.00 and set an outperform rating for the company in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. MSC Industrial Direct currently has an average rating of Hold and an average price target of $91.75.

Shares of MSC Industrial Direct (NYSE:MSM) opened at 71.18 on Tuesday. The company’s 50-day moving average price is $69.44 and its 200-day moving average price is $85.03. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a market cap of $4.05 billion, a P/E ratio of 17.75 and a beta of 0.51.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The firm had revenue of $743.90 million for the quarter, compared to the consensus estimate of $744.49 million. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that MSC Industrial Direct will post $3.97 EPS for the current fiscal year.

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In other MSC Industrial Direct news, Director Philip Peller acquired 1,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was acquired at an average cost of $72.00 per share, with a total value of $72,000.00. Following the transaction, the director now owns 2,422 shares in the company, valued at approximately $174,384. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 31.28% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MSM. Morgan Dempsey Capital Management LLC boosted its position in shares of MSC Industrial Direct by 3.5% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 37 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 123 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 8 shares in the last quarter. QS Investors LLC boosted its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 8 shares in the last quarter. Finally, Invictus RG boosted its position in shares of MSC Industrial Direct by 796.7% during the 1st quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 1,442 shares in the last quarter. 75.69% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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