Wolfe Research Reaffirms "Peer Perform" Rating for MSC Industrial Direct (NYSE:MSM)

Key Points

• Wolfe Research reaffirmed its “Peer Perform” rating on MSC Industrial Direct, while the broader analyst consensus remains “Hold” with a $123.43 price target.
• MSC Industrial Direct opened at $119.29, down 1.0%, with a market capitalization of approximately $6.66 billion. The stock trades at a P/E ratio of 28.81 and has ranged from $78.80 to $130.46 over the past year.
• The company exceeded quarterly expectations, reporting $1.43 in earnings per share versus the $1.28 consensus estimate and $1.05 billion in revenue, up 7.8% year over year. Institutional investors and hedge funds own approximately 79.26% of the stock.

MSC Industrial Direct (NYSE:MSM - Get Free Report)'s stock had its "peer perform" rating restated by equities research analysts at Wolfe Research in a research report issued to clients and investors on Tuesday, Benzinga reports.

MSM has been the subject of several other research reports. Wall Street Zen upgraded shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. DA Davidson raised their target price on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Jefferies Financial Group set a $130.00 target price on shares of MSC Industrial Direct in a report on Wednesday, July 1st. Rothschild & Co Redburn began coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They issued a "buy" rating and a $155.00 price target for the company. Finally, Zacks Research cut shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, MSC Industrial Direct currently has a consensus rating of "Hold" and a consensus price target of $123.43.

MSC Industrial Direct Trading Down 1.0%

NYSE:MSM opened at $119.29 on Tuesday. The stock has a 50-day simple moving average of $122.03 and a 200-day simple moving average of $109.57. The stock has a market cap of $6.66 billion, a P/E ratio of 28.81 and a beta of 0.83. MSC Industrial Direct has a 1 year low of $78.80 and a 1 year high of $130.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. As a group, analysts anticipate that MSC Industrial Direct will post 4.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MSC Industrial Direct

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of MSC Industrial Direct by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,744 shares of the industrial products company's stock worth $4,014,000 after buying an additional 1,299 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in MSC Industrial Direct by 20.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,834 shares of the industrial products company's stock valued at $932,000 after acquiring an additional 1,307 shares in the last quarter. Tidal Investments LLC raised its position in MSC Industrial Direct by 203.5% during the second quarter. Tidal Investments LLC now owns 6,588 shares of the industrial products company's stock worth $784,000 after acquiring an additional 4,417 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of MSC Industrial Direct by 2.2% in the second quarter. WINTON GROUP Ltd now owns 161,582 shares of the industrial products company's stock valued at $19,220,000 after purchasing an additional 3,438 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of MSC Industrial Direct by 57.3% in the second quarter. Allworth Financial LP now owns 1,329 shares of the industrial products company's stock valued at $158,000 after purchasing an additional 484 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers by helping them source the products, services and expertise needed to operate and maintain manufacturing facilities, equipment and workplaces.

Its product offerings include cutting tools, abrasives, fasteners, hand and power tools, safety equipment, material-handling products, janitorial supplies, plumbing and electrical items, and other industrial consumables.

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