Buckingham Research Cuts MSC Industrial Direct (NYSE:MSM) Price Target to $72.00

MSC Industrial Direct (NYSE:MSM) had its price target cut by Buckingham Research from $75.00 to $72.00 in a research report issued on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Buckingham Research’s price target would suggest a potential upside of 16.47% from the company’s current price.

A number of other analysts have also recently weighed in on MSM. Raymond James cut shares of MSC Industrial Direct from a “market perform” rating to an “underperform” rating in a report on Thursday, November 7th. Zacks Investment Research cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $75.89.

Shares of NYSE:MSM traded down $1.80 during trading on Wednesday, reaching $61.82. The stock had a trading volume of 912,243 shares, compared to its average volume of 646,717. MSC Industrial Direct has a one year low of $60.60 and a one year high of $86.16. The company has a market capitalization of $3.64 billion, a P/E ratio of 12.22, a PEG ratio of 0.90 and a beta of 0.93. The company has a current ratio of 2.90, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $72.04 and its 200 day simple moving average is $72.44.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.04. MSC Industrial Direct had a net margin of 8.35% and a return on equity of 19.67%. The business had revenue of $823.60 million for the quarter, compared to analysts’ expectations of $820.84 million. During the same period last year, the business earned $1.33 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that MSC Industrial Direct will post 4.84 earnings per share for the current fiscal year.

In related news, VP Charles Bonomo sold 24,211 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $77.50, for a total value of $1,876,352.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rustom Jilla sold 29,373 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $76.50, for a total transaction of $2,247,034.50. The disclosure for this sale can be found here. Insiders sold a total of 74,478 shares of company stock valued at $5,712,323 over the last ninety days. 28.75% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pearl River Capital LLC purchased a new position in MSC Industrial Direct during the 4th quarter worth approximately $248,000. GW Henssler & Associates Ltd. raised its position in MSC Industrial Direct by 19.5% during the 4th quarter. GW Henssler & Associates Ltd. now owns 8,126 shares of the industrial products company’s stock worth $638,000 after buying an additional 1,326 shares during the last quarter. Geode Capital Management LLC raised its position in MSC Industrial Direct by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 535,006 shares of the industrial products company’s stock worth $41,981,000 after buying an additional 13,078 shares during the last quarter. Mason Street Advisors LLC raised its position in MSC Industrial Direct by 1.5% during the 4th quarter. Mason Street Advisors LLC now owns 23,959 shares of the industrial products company’s stock worth $1,880,000 after buying an additional 356 shares during the last quarter. Finally, Brinker Capital Inc. purchased a new position in MSC Industrial Direct during the 4th quarter worth approximately $404,000. 75.74% of the stock is owned by institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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