Zacks Investment Research Upgrades MSC Industrial Direct (NYSE:MSM) to Hold

MSC Industrial Direct (NYSE:MSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, 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. Deutsche Bank decreased their price objective on shares of MSC Industrial Direct from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, July 9th. KeyCorp lifted their price target on shares of MSC Industrial Direct from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. ValuEngine lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd. TheStreet raised shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, June 16th. Finally, Raymond James reissued a “sell” rating on shares of MSC Industrial Direct in a research note on Friday, September 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.13.

Shares of NYSE MSM opened at $65.11 on Tuesday. The company’s fifty day moving average price is $66.56 and its 200 day moving average price is $63.88. MSC Industrial Direct has a 1 year low of $44.93 and a 1 year high of $79.87. The company has a market capitalization of $3.61 billion, a PE ratio of 13.62 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.66 and a current ratio of 2.63.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.24. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 19.58%. The firm had revenue of $834.97 million for the quarter, compared to the consensus estimate of $835.02 million. On average, equities analysts expect that MSC Industrial Direct will post 4.58 EPS for the current year.

In other MSC Industrial Direct news, SVP Edward F. Martin, Jr. sold 653 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $64.79, for a total value of $42,307.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 28.75% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of MSC Industrial Direct by 1,012.8% during the 1st quarter. Mackenzie Financial Corp now owns 556,401 shares of the industrial products company’s stock worth $30,585,000 after purchasing an additional 506,401 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter worth $32,670,000. APG Asset Management N.V. purchased a new stake in shares of MSC Industrial Direct during the 1st quarter worth $20,021,000. Charles Schwab Investment Management Inc. boosted its position in shares of MSC Industrial Direct by 47.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 740,568 shares of the industrial products company’s stock worth $53,921,000 after purchasing an additional 238,746 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter worth $12,333,000. 70.41% of the stock is currently owned by institutional investors.

MSC Industrial Direct Company Profile

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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