MSC Industrial Direct (NYSE:MSM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of MSC Industrial Direct (NYSE:MSM) from a sell rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “MSC Industrial Direct Co., Inc. is one of the premier distributors of Metalworking and Maintenance, Repair and Operations (MRO) supplies to industrial customers throughout the United States. MSC distributes approximately 590,000 industrial products from approximately 3,000 suppliers to approximately 350,000 customers. MSC reaches its customers through a combination of approximately 27 million direct-mail catalogs and CD-ROMs, 96 branch sales offices, 927 sales people, the Internet and associations with some of the world’s most prominent B2B e-commerce portals. “

MSM has been the topic of several other reports. Buckingham Research set a $81.00 price target on MSC Industrial Direct and gave the company a hold rating in a research note on Thursday, April 11th. Robert W. Baird decreased their price objective on MSC Industrial Direct from $88.00 to $84.00 and set a neutral rating for the company in a report on Thursday, April 11th. Gordon Haskett downgraded MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price objective for the company. in a report on Monday, June 10th. Wells Fargo & Co decreased their price objective on MSC Industrial Direct from $85.00 to $80.00 and set a market perform rating for the company in a report on Thursday, April 11th. Finally, ValuEngine downgraded MSC Industrial Direct from a hold rating to a sell rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. MSC Industrial Direct has an average rating of Hold and an average price target of $86.56.

Shares of MSM opened at $71.51 on Friday. MSC Industrial Direct has a 52-week low of $69.81 and a 52-week high of $94.18. The company has a current ratio of 2.19, a quick ratio of 1.18 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, April 10th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). MSC Industrial Direct had a net margin of 8.88% and a return on equity of 21.20%. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $826.98 million. During the same period last year, the firm posted $1.34 earnings per share. Equities analysts predict that MSC Industrial Direct will post 5.55 earnings per share for the current year.

In other news, EVP Douglas E. Jones sold 2,126 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the completion of the sale, the executive vice president now owns 7,496 shares in the company, valued at $625,916. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Steven N. Baruch sold 5,404 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The disclosure for this sale can be found here. Insiders own 27.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Martingale Asset Management L P bought a new stake in MSC Industrial Direct during the fourth quarter worth $736,000. Federated Investors Inc. PA grew its holdings in MSC Industrial Direct by 7.3% during the first quarter. Federated Investors Inc. PA now owns 229,737 shares of the industrial products company’s stock worth $19,002,000 after buying an additional 15,544 shares in the last quarter. Poplar Forest Capital LLC grew its holdings in MSC Industrial Direct by 29.2% during the fourth quarter. Poplar Forest Capital LLC now owns 823,055 shares of the industrial products company’s stock worth $63,309,000 after buying an additional 186,074 shares in the last quarter. Squarepoint Ops LLC grew its holdings in MSC Industrial Direct by 160.6% during the fourth quarter. Squarepoint Ops LLC now owns 95,131 shares of the industrial products company’s stock worth $7,317,000 after buying an additional 58,632 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in MSC Industrial Direct by 38.3% during the first quarter. First Citizens Bank & Trust Co. now owns 5,346 shares of the industrial products company’s stock worth $442,000 after buying an additional 1,480 shares in the last quarter. Hedge funds and other institutional investors own 77.49% 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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