MSC Industrial Direct (NYSE:MSM) Upgraded to Strong-Buy at Barclays

Key Points

• Barclays upgraded MSC Industrial Direct to “strong buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $127.62.
• MSM shares rose 2.6% to open at $132.00, near their 12-month high of $132.55; the company has a $7.37 billion market capitalization and a P/E ratio of 31.88.
• Institutional ownership is substantial at 79.26%, with several hedge funds increasing their positions during the third quarter.

MSC Industrial Direct (NYSE:MSM - Get Free Report) was upgraded by Barclays to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

MSM has been the topic of a number of other research reports. Wolfe Research assumed coverage on MSC Industrial Direct in a report on Tuesday, September 15th. They issued a "peer perform" rating on the stock. DA Davidson set a $155.00 price objective on MSC Industrial Direct in a report on Tuesday. Wall Street Zen raised MSC Industrial Direct from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 target price on the stock. Finally, KeyCorp upped their target price on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $127.62.

MSC Industrial Direct Trading Up 2.6%

Shares of MSM opened at $132.00 on Tuesday. MSC Industrial Direct has a twelve month low of $78.80 and a twelve month high of $132.55. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $7.37 billion, a P/E ratio of 31.88 and a beta of 0.82. The firm's 50-day moving average is $122.63 and its two-hundred day moving average is $114.68.

Hedge Funds Weigh In On MSC Industrial Direct

Several institutional investors and hedge funds have recently modified their holdings of MSM. Krilogy Financial LLC grew its stake in MSC Industrial Direct by 58.8% in the 3rd quarter. Krilogy Financial LLC now owns 5,029 shares of the industrial products company's stock worth $647,000 after acquiring an additional 1,863 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in MSC Industrial Direct in the 3rd quarter valued at $783,000. GAMMA Investing LLC lifted its stake in shares of MSC Industrial Direct by 12.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,721 shares of the industrial products company's stock worth $213,000 after purchasing an additional 187 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of MSC Industrial Direct by 43.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,840 shares of the industrial products company's stock worth $351,000 after purchasing an additional 862 shares during the period. Finally, Elevation Wealth Partners LLC lifted its stake in shares of MSC Industrial Direct by 125.3% during the 3rd quarter. Elevation Wealth Partners LLC now owns 552 shares of the industrial products company's stock worth $68,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.

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