Watsco (NYSE:WSO) has been given a $185.00 price objective by investment analysts at Stephens in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the construction company’s stock. Stephens’ target price indicates a potential upside of 9.68% from the stock’s previous close.
Several other research firms have also weighed in on WSO. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Monday, April 16th. Stifel Nicolaus reiterated a “buy” rating and set a $191.00 target price on shares of Watsco in a research note on Wednesday, April 4th. ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Susquehanna Bancshares set a $195.00 target price on shares of Watsco and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase reduced their price target on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $181.13.
WSO stock opened at $168.68 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.38. Watsco has a 1-year low of $135.80 and a 1-year high of $192.94. The firm has a market cap of $6,993.38, a price-to-earnings ratio of 31.71 and a beta of 0.82.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Watsco by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after acquiring an additional 105,677 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Watsco by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 768,615 shares of the construction company’s stock valued at $130,696,000 after acquiring an additional 3,569 shares during the period. DF Dent & Co. Inc. lifted its holdings in Watsco by 12.6% in the fourth quarter. DF Dent & Co. Inc. now owns 484,258 shares of the construction company’s stock worth $82,343,000 after purchasing an additional 54,133 shares during the period. OppenheimerFunds Inc. lifted its holdings in Watsco by 1.3% in the fourth quarter. OppenheimerFunds Inc. now owns 463,255 shares of the construction company’s stock worth $78,772,000 after purchasing an additional 5,878 shares during the period. Finally, Millennium Management LLC acquired a new stake in Watsco in the fourth quarter worth about $63,110,000. 81.62% of the stock is owned by institutional investors.
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Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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