Watsco (NYSE:WSO) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Watsco (NYSE:WSOGet Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the construction company’s stock.

A number of other analysts have also commented on WSO. Robert W. Baird lifted their target price on Watsco from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. UBS Group started coverage on Watsco in a report on Tuesday, January 10th. They issued a “neutral” rating and a $280.00 target price for the company. Stephens lifted their target price on Watsco from $300.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Finally, KeyCorp lifted their target price on Watsco from $335.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $313.67.

Watsco Stock Up 0.8 %

Shares of NYSE:WSO opened at $300.45 on Thursday. The stock has a fifty day simple moving average of $291.92 and a two-hundred day simple moving average of $274.42. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 19.50 and a beta of 0.89. Watsco has a 12-month low of $220.68 and a 12-month high of $343.85. The company has a current ratio of 2.54, a quick ratio of 1.02 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSOGet Rating) last announced its quarterly earnings data on Thursday, February 16th. The construction company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.23. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Watsco had a return on equity of 25.17% and a net margin of 8.26%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 earnings per share. On average, research analysts anticipate that Watsco will post 13.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Watsco

Several institutional investors and hedge funds have recently bought and sold shares of WSO. Amundi purchased a new position in Watsco during the second quarter valued at $25,000. Denali Advisors LLC purchased a new position in Watsco during the fourth quarter valued at $25,000. U.S. Capital Wealth Advisors LLC purchased a new position in Watsco during the fourth quarter valued at $34,000. Ronald Blue Trust Inc. purchased a new position in Watsco during the fourth quarter valued at $36,000. Finally, Private Trust Co. NA purchased a new position in Watsco during the second quarter valued at $37,000. 84.73% of the stock is currently owned by hedge funds and other institutional investors.

About Watsco

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Watsco, Inc engages in the distribution of air conditioning, heating and refrigeration equipment, and related parts and supplies. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning and heating equipment, and other specialized equipment and parts, including replacement compressors, evaporator coils, motors and other component parts and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.

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Analyst Recommendations for Watsco (NYSE:WSO)

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