Watsco (NYSE:WSO) had its price target upped by stock analysts at JPMorgan Chase & Co. from $127.00 to $130.00 in a research note issued on Tuesday, The Fly reports. The brokerage presently has an “underweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 23.78% from the company’s previous close.
Several other research firms also recently commented on WSO. Robert W. Baird decreased their price objective on Watsco from $170.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating and set a $186.00 price objective for the company. in a report on Saturday, May 30th. Finally, Morgan Stanley cut their target price on Watsco from $147.00 to $138.00 and set an “equal weight” rating on the stock in a research report on Monday, March 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Watsco currently has an average rating of “Hold” and an average target price of $162.00.
NYSE WSO opened at $170.56 on Tuesday. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 27.33 and a beta of 0.68. Watsco has a 52 week low of $132.97 and a 52 week high of $186.87. The business has a 50 day moving average price of $170.27 and a 200-day moving average price of $168.80. The company has a quick ratio of 1.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.18.
Watsco (NYSE:WSO) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.14). The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Watsco had a net margin of 4.98% and a return on equity of 14.23%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, equities research analysts anticipate that Watsco will post 5.43 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Boston Financial Mangement LLC boosted its position in Watsco by 27.5% in the first quarter. Boston Financial Mangement LLC now owns 285,236 shares of the construction company’s stock worth $45,076,000 after purchasing an additional 61,502 shares during the last quarter. Motley Fool Wealth Management LLC boosted its position in Watsco by 6.7% in the first quarter. Motley Fool Wealth Management LLC now owns 116,707 shares of the construction company’s stock worth $18,443,000 after purchasing an additional 7,288 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Watsco by 11.9% in the fourth quarter. Nuveen Asset Management LLC now owns 255,841 shares of the construction company’s stock worth $46,090,000 after purchasing an additional 27,227 shares during the last quarter. Norges Bank purchased a new position in Watsco in the fourth quarter worth $81,931,000. Finally, State Street Corp boosted its position in Watsco by 6.3% in the first quarter. State Street Corp now owns 832,698 shares of the construction company’s stock worth $131,591,000 after purchasing an additional 49,536 shares during the last quarter. 80.33% of the stock is currently owned by institutional investors and hedge funds.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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