MSC Industrial Direct’s (MSM) Overweight Rating Reiterated at Stephens

MSC Industrial Direct (NYSE:MSMGet Free Report)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a report released on Monday, Benzinga reports. They currently have a $110.00 price objective on the industrial products company’s stock. Stephens’ price target indicates a potential upside of 13.36% from the company’s previous close.

Separately, KeyCorp decreased their price objective on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

View Our Latest Stock Analysis on MSM

MSC Industrial Direct Trading Down 2.5 %

Shares of MSM stock opened at $97.04 on Monday. The stock has a 50 day simple moving average of $98.62 and a 200 day simple moving average of $98.34. MSC Industrial Direct has a 1 year low of $82.09 and a 1 year high of $105.77. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.47 billion, a P/E ratio of 17.42 and a beta of 0.95.

MSC Industrial Direct (NYSE:MSMGet Free Report) last released its earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.02. The company had revenue of $935.30 million for the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. MSC Industrial Direct’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. On average, research analysts predict that MSC Industrial Direct will post 5.9 earnings per share for the current fiscal year.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $96.15, for a total value of $1,442,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,417,038 shares in the company, valued at approximately $136,248,203.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mitchell Jacobson sold 24,501 shares of MSC Industrial Direct stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the completion of the transaction, the director now owns 1,683,810 shares of the company’s stock, valued at $167,219,171.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Erik Gershwind sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $96.15, for a total value of $1,442,250.00. Following the sale, the chief executive officer now owns 1,417,038 shares in the company, valued at approximately $136,248,203.70. The disclosure for this sale can be found here. Insiders sold a total of 254,503 shares of company stock worth $24,841,663 in the last quarter. 18.80% of the stock is owned by insiders.

Hedge Funds Weigh In On MSC Industrial Direct

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of MSC Industrial Direct by 34.8% during the 1st quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock worth $467,024,000 after purchasing an additional 1,414,485 shares in the last quarter. Norges Bank bought a new stake in shares of MSC Industrial Direct during the fourth quarter valued at approximately $56,088,000. Hennessy Advisors Inc. bought a new stake in MSC Industrial Direct during the 4th quarter valued at $21,649,000. Balyasny Asset Management LLC bought a new stake in MSC Industrial Direct during the 3rd quarter valued at $14,719,000. Finally, Vanguard Group Inc. raised its holdings in MSC Industrial Direct by 4.3% during the third quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock worth $472,790,000 after buying an additional 197,193 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

About MSC Industrial Direct

(Get Free Report)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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