MSC Industrial Direct (NYSE:MSM) Coverage Initiated at Wolfe Research

Analysts at Wolfe Research assumed coverage on shares of MSC Industrial Direct (NYSE:MSM) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $95.00 price target on the industrial products company’s stock. Wolfe Research’s price objective indicates a potential upside of 16.04% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Stephens cut MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.80.

MSC Industrial Direct Trading Up 0.7 %

NYSE MSM opened at $81.87 on Thursday. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $81.65 and a 200 day simple moving average of $81.91. MSC Industrial Direct has a 12 month low of $72.79 and a 12 month high of $104.76. The firm has a market capitalization of $4.58 billion, a P/E ratio of 19.54 and a beta of 0.91.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $928.50 million during the quarter, compared to the consensus estimate of $904.90 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that MSC Industrial Direct will post 3.53 EPS for the current fiscal year.

Insider Buying and Selling at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Peller sold 900 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the sale, the director now directly owns 4,044 shares in the company, valued at $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of MSC Industrial Direct in the fourth quarter worth about $420,000. SG Americas Securities LLC lifted its stake in MSC Industrial Direct by 1,702.1% in the 4th quarter. SG Americas Securities LLC now owns 22,202 shares of the industrial products company’s stock worth $1,658,000 after purchasing an additional 20,970 shares in the last quarter. Sharp Financial Services LLC bought a new position in MSC Industrial Direct in the 4th quarter valued at $332,000. Red Spruce Capital LLC grew its position in shares of MSC Industrial Direct by 12.4% during the 4th quarter. Red Spruce Capital LLC now owns 21,677 shares of the industrial products company’s stock valued at $1,619,000 after purchasing an additional 2,392 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 167 shares during the period. Institutional investors own 79.26% 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 and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include 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.