MSA Safety Incorporporated (NYSE:MSA) Price Target Lowered to $206.00 at DA Davidson

Key Points

• DA Davidson cut its price target on MSA Safety from $235 to $206, while keeping a buy rating on the stock. The new target still implies about 21% upside from the prior close.
• MSA Safety beat quarterly earnings and revenue estimates, reporting EPS of $1.99 versus $1.85 expected and revenue of $463.63 million, up 10% year over year. Analysts now expect full-year EPS of 8.83.
• The company also authorized a $500 million share buyback, equal to about 6.6% of its shares. That move suggests management views the stock as undervalued.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) had its target price dropped by equities research analysts at DA Davidson from $235.00 to $206.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. DA Davidson's price target indicates a potential upside of 21.32% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird set a $197.00 price target on shares of MSA Safety Incorporporated in a research report on Wednesday, May 6th. Weiss Ratings cut MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. JPMorgan Chase & Co. started coverage on MSA Safety Incorporporated in a report on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 target price for the company. B. Riley Financial reiterated a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. Finally, National Bank Financial set a $235.00 price objective on MSA Safety Incorporporated in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $200.00.

MSA Safety Incorporporated Stock Down 0.1%

Shares of NYSE MSA traded down $0.20 during trading on Monday, reaching $169.74. 46,498 shares of the stock were exchanged, compared to its average volume of 228,831. MSA Safety Incorporporated has a twelve month low of $151.10 and a twelve month high of $208.92. The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.92 and a beta of 0.97. The business's 50-day moving average price is $174.71 and its 200 day moving average price is $172.23.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The business had revenue of $463.63 million during the quarter, compared to analyst estimates of $451.28 million. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that MSA Safety Incorporporated will post 8.83 EPS for the current fiscal year.

MSA Safety Incorporporated announced that its Board of Directors has authorized a share buyback plan on Thursday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the completion of the sale, the chief accounting officer owned 3,234 shares of the company's stock, valued at approximately $658,054.32. This represents a 25.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of MSA Safety Incorporporated

Institutional investors have recently made changes to their positions in the stock. Cooke & Bieler LP raised its position in shares of MSA Safety Incorporporated by 1.3% during the third quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock valued at $141,892,000 after buying an additional 10,858 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of MSA Safety Incorporporated by 2.4% in the third quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock valued at $26,893,000 after purchasing an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of MSA Safety Incorporporated during the third quarter valued at approximately $782,000. Alps Advisors Inc. bought a new stake in shares of MSA Safety Incorporporated in the 3rd quarter valued at about $15,282,000. Finally, Citigroup Inc. lifted its holdings in shares of MSA Safety Incorporporated by 123.6% during the 3rd quarter. Citigroup Inc. now owns 46,775 shares of the industrial products company's stock valued at $8,049,000 after purchasing an additional 25,856 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company's stock.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company's offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA's products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.

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