MSC Industrial Direct Company, Inc. (MSM) Rating Increased to Buy at Zacks Investment Research

MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $85.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.27% from the company’s current price.

According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “

A number of other research analysts have also recently issued reports on MSM. BidaskClub upgraded MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Credit Suisse Group lowered their price objective 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. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price objective (down previously from $92.00) on shares of MSC Industrial Direct in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “hold” rating and set a $78.00 price objective (down previously from $88.00) on shares of MSC Industrial Direct in a research note on Friday, July 14th. Finally, BMO Capital Markets lowered their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $89.23.

MSC Industrial Direct (MSM) opened at 75.71 on Wednesday. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 18.88 and a beta of 0.54. The stock’s 50 day moving average price is $72.24 and its 200-day moving average price is $80.69.

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

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In other news, Director Philip Peller acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was bought at an average price of $72.00 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.28% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after acquiring an additional 37,928 shares during the period. BlackRock Inc. grew its holdings in shares of MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock worth $382,836,000 after acquiring an additional 3,677,680 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of MSC Industrial Direct by 26.2% in the second quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after acquiring an additional 649,201 shares during the period. Alliancebernstein L.P. grew its holdings in shares of MSC Industrial Direct by 267.2% in the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after acquiring an additional 1,048,714 shares during the period. Finally, State Street Corp grew its holdings in shares of MSC Industrial Direct by 1.6% in the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after acquiring an additional 19,302 shares during the period. 75.58% of the stock is owned by institutional investors.

About MSC Industrial Direct

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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