Lawson Products (NASDAQ:LAWS) Rating Increased to Buy at Zacks Investment Research

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Lawson Products (NASDAQ:LAWS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The brokerage presently has a $41.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.96% from the company’s current price.

According to Zacks, “Lawson Products, Inc. is a distributor of expendable maintenance, repair & replacement products. It also distributes production components to the O.E.M. marketplace. These products may be divided into 3 broad categories: Fasteners, Fittings & Related Parts, such as screws, nuts, & other fasteners; Industrial Supplies, such as hoses, lubricants, adhesives & other chemicals, as well as files, drills, & other shop supplies; & Automotive & Equipment Maintenance Parts, such as primary wiring, connectors & other electrical supplies, exhaust & other automotive parts. “

Several other brokerages have also recently weighed in on LAWS. Barrington Research set a $37.00 price objective on shares of Lawson Products and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BidaskClub cut shares of ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Finally, ValuEngine cut shares of Xylem from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $39.00.

Shares of Lawson Products stock opened at $36.62 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 0.88. The company has a market capitalization of $328.44 million, a PE ratio of 37.75, a price-to-earnings-growth ratio of 1.21 and a beta of 0.78. Lawson Products has a 1-year low of $23.50 and a 1-year high of $40.36. The business’s 50-day moving average price is $36.44.

Lawson Products (NASDAQ:LAWS) last issued its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.15. The firm had revenue of $91.34 million for the quarter, compared to analysts’ expectations of $89.77 million. Lawson Products had a net margin of 2.56% and a return on equity of 9.19%. As a group, equities analysts expect that Lawson Products will post 1.73 EPS for the current fiscal year.

In related news, Director Mark F. Moon purchased 1,696 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $34.92 per share, with a total value of $59,224.32. Following the completion of the purchase, the director now directly owns 3,705 shares of the company’s stock, valued at $129,378.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew Jay Brown sold 1,636 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.93, for a total transaction of $63,689.48. The disclosure for this sale can be found here. 51.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Lawson Products by 38.3% during the fourth quarter. Rhumbline Advisers now owns 10,480 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 2,902 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Lawson Products by 0.4% during the fourth quarter. BlackRock Inc. now owns 510,714 shares of the industrial products company’s stock worth $16,140,000 after purchasing an additional 2,062 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lawson Products by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 38,452 shares of the industrial products company’s stock worth $1,215,000 after purchasing an additional 2,381 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lawson Products by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 60,085 shares of the industrial products company’s stock worth $1,898,000 after purchasing an additional 3,707 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Lawson Products by 33.3% during the fourth quarter. Bank of America Corp DE now owns 4,675 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,169 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors and hedge funds.

Lawson Products Company Profile

Lawson Products, Inc distributes products and services to the industrial, commercial, institutional, and government maintenance, repair, and operations marketplace in the United States, Puerto Rico, Canada, Mexico, and the Caribbean. It operates in two segments, Lawson and Bolt. The company's products include fastening systems, fluid power products, specialty chemicals, cutting tools and abrasives, electrical products, aftermarket automotive supplies, safety products, welding and metal repair products, and other products.

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