MSC Industrial Direct (NYSE:MSM) Lowered to Market Perform at Raymond James

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Raymond James downgraded shares of MSC Industrial Direct (NYSE:MSM) from an outperform rating to a market perform rating in a report released on Thursday morning, BenzingaRatingsTable reports.

A number of other equities analysts also recently commented on the stock. Buckingham Research lowered their target price on shares of MSC Industrial Direct from $77.00 to $70.00 and set a neutral rating for the company in a research note on Thursday, July 11th. Wells Fargo & Co set a $70.00 target price on shares of MSC Industrial Direct and gave the stock a market perform rating in a research note on Thursday, July 11th. Northcoast Research downgraded shares of MSC Industrial Direct from a buy rating to a neutral rating and lowered their target price for the stock from $89.00 to $74.00 in a research note on Friday, July 12th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a sell rating to a hold rating in a research note on Thursday. Finally, Gordon Haskett downgraded shares of MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 target price for the company. in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $80.70.

MSC Industrial Direct stock opened at $72.22 on Thursday. MSC Industrial Direct has a twelve month low of $64.59 and a twelve month high of $90.25. The stock’s fifty day simple moving average is $68.77 and its 200-day simple moving average is $75.44. The company has a current ratio of 2.50, a quick ratio of 1.35 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.97 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.06 and a beta of 0.91.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.05). MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The company had revenue of $866.50 million for the quarter, compared to analysts’ expectations of $881.62 million. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that MSC Industrial Direct will post 5.24 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of MSC Industrial Direct during the second quarter worth about $53,000. Point72 Asset Management L.P. acquired a new stake in shares of MSC Industrial Direct during the second quarter worth about $89,000. NumerixS Investment Technologies Inc boosted its stake in shares of MSC Industrial Direct by 71.4% during the first quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after buying an additional 500 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of MSC Industrial Direct during the second quarter worth about $106,000. Finally, ETF Managers Group LLC boosted its stake in shares of MSC Industrial Direct by 9.8% during the first quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 75.32% of the company’s stock.

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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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