MSA Safety Incorporporated (NYSE:MSA) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded MSA Safety from Hold to Strong-Buy, adding to a generally mixed analyst backdrop that currently shows a consensus Hold rating and an average price target of $204.83.
• The company reported better-than-expected quarterly results, with EPS of $1.99 versus the $1.85 estimate and revenue of $463.63 million, up 10% year over year.
• MSA Safety also announced a $500 million share repurchase program, allowing it to buy back up to 6.6% of outstanding shares, which management may see as a sign the stock is undervalued.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

MSA has been the topic of several other reports. DA Davidson lifted their price target on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Robert W. Baird set a $197.00 price objective on shares of MSA Safety Incorporporated in a research note on Wednesday. Jefferies Financial Group restated a "hold" rating and issued a $180.00 price objective (down from $200.00) on shares of MSA Safety Incorporporated in a research note on Tuesday, March 31st. Weiss Ratings lowered shares of MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Finally, B. Riley Financial restated a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $204.83.

MSA Safety Incorporporated Price Performance

Shares of NYSE:MSA opened at $169.70 on Friday. The company's fifty day moving average price is $174.71 and its 200 day moving average price is $172.23. MSA Safety Incorporporated has a 12 month low of $151.10 and a 12 month high of $208.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.17 and a quick ratio of 1.82. The firm has a market capitalization of $6.55 billion, a P/E ratio of 22.93 and a beta of 0.97.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.99 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $463.63 million for the quarter, compared to analyst estimates of $451.28 million. During the same period last year, the business earned $1.68 EPS. MSA Safety Incorporporated's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that MSA Safety Incorporporated will post 8.79 earnings per share for the current fiscal year.

MSA Safety Incorporporated declared that its Board of Directors has initiated a share repurchase program on Thursday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Jonathan D. Buck sold 1,100 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the transaction, the chief accounting officer directly owned 3,234 shares in the company, valued at $658,054.32. The trade was a 25.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in MSA Safety Incorporporated by 700.0% during the third quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after buying an additional 126 shares in the last quarter. Root Financial Partners LLC boosted its holdings in MSA Safety Incorporporated by 109.3% during the first quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock worth $26,000 after buying an additional 82 shares in the last quarter. eCIO Inc. purchased a new stake in MSA Safety Incorporporated during the fourth quarter worth about $27,000. First Horizon Corp purchased a new stake in MSA Safety Incorporporated during the third quarter worth about $30,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in MSA Safety Incorporporated by 94.1% during the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock worth $33,000 after buying an additional 96 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

MSA Safety Incorporporated Company Profile

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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