MSC Industrial Direct (MSM) Research Coverage Started at Gordon Haskett

Gordon Haskett initiated coverage on shares of MSC Industrial Direct (NYSE:MSM) in a research report released on Friday morning, MarketBeat reports. The brokerage issued a buy rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on MSM. ValuEngine cut shares of MSC Industrial Direct from a hold rating to a sell rating in a research report on Monday, July 2nd. Zacks Investment Research cut shares of MSC Industrial Direct from a hold rating to a sell rating in a research report on Thursday, July 5th. BMO Capital Markets decreased their price target on shares of MSC Industrial Direct from $104.00 to $92.00 and set a market perform rating for the company in a research report on Thursday, July 12th. Wells Fargo & Co decreased their price target on shares of MSC Industrial Direct from $95.00 to $87.00 and set a market perform rating for the company in a research report on Thursday, July 12th. Finally, Northcoast Research set a $95.00 price target on shares of MSC Industrial Direct and gave the stock a buy rating in a research report on Friday, July 13th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $100.00.

MSC Industrial Direct stock traded up $0.95 during trading on Friday, reaching $80.57. 576,377 shares of the company’s stock were exchanged, compared to its average volume of 595,919. The company has a current ratio of 2.11, a quick ratio of 1.14 and a debt-to-equity ratio of 0.18. MSC Industrial Direct has a 52-week low of $75.41 and a 52-week high of $99.94. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 11th. The industrial products company reported $1.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.39. MSC Industrial Direct had a net margin of 10.16% and a return on equity of 21.08%. The firm had revenue of $828.30 million during the quarter, compared to analysts’ expectations of $834.43 million. During the same period in the prior year, the company earned $1.09 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that MSC Industrial Direct will post 5.06 earnings per share for the current year.

In other MSC Industrial Direct news, Director Denis F. Kelly sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total value of $132,645.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Gregory Polli sold 8,696 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $82.38, for a total transaction of $716,376.48. The disclosure for this sale can be found here. Insiders own 31.38% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Visionary Asset Management Inc. raised its stake in shares of MSC Industrial Direct by 14.9% in the 3rd quarter. Visionary Asset Management Inc. now owns 4,430 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 575 shares in the last quarter. DF Dent & Co. Inc. raised its stake in shares of MSC Industrial Direct by 9.0% in the 2nd quarter. DF Dent & Co. Inc. now owns 7,545 shares of the industrial products company’s stock valued at $640,000 after purchasing an additional 625 shares in the last quarter. Cadence Capital Management LLC raised its stake in MSC Industrial Direct by 13.9% during the second quarter. Cadence Capital Management LLC now owns 5,252 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 642 shares during the period. Oregon Public Employees Retirement Fund raised its stake in MSC Industrial Direct by 4.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,590 shares of the industrial products company’s stock worth $1,493,000 after acquiring an additional 674 shares during the period. Finally, MetLife Investment Advisors LLC raised its stake in MSC Industrial Direct by 2.5% during the second quarter. MetLife Investment Advisors LLC now owns 28,822 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 705 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, 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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