MSC Industrial Direct (NYSE:MSM) Price Target Raised to $93.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for MSC Industrial Direct from $89.00 to $93.00, indicating a potential upside of 9.10% from the current price.
• Despite the upgrade by JPMorgan, other analysts have mixed views, with Zacks downgrading the stock from "strong-buy" to "hold" while several others maintain a "hold" rating.
• The stock has recently traded down 2.0% to $85.25 and has a market capitalization of $4.75 billion along with a P/E ratio of 24.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price objective raised by analysts at JPMorgan Chase & Co. from $89.00 to $93.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 9.10% from the company's current price.

Several other equities research analysts have also recently issued reports on MSM. Zacks Research cut shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Robert W. Baird raised their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MSC Industrial Direct in a research note on Wednesday, October 8th. Loop Capital raised their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Finally, Wolfe Research cut shares of MSC Industrial Direct from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $91.00.

MSC Industrial Direct Trading Down 2.0%

Shares of MSC Industrial Direct stock traded down $1.72 during mid-day trading on Wednesday, hitting $85.25. 64,866 shares of the stock were exchanged, compared to its average volume of 576,458. MSC Industrial Direct has a twelve month low of $68.10 and a twelve month high of $94.31. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 24.21 and a beta of 0.95. The company has a 50-day simple moving average of $89.78 and a 200 day simple moving average of $84.31. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

Institutional Trading of MSC Industrial Direct

A number of hedge funds have recently made changes to their positions in MSM. Farther Finance Advisors LLC increased its stake in shares of MSC Industrial Direct by 54.2% in the third quarter. Farther Finance Advisors LLC now owns 1,354 shares of the industrial products company's stock worth $125,000 after buying an additional 476 shares during the last quarter. Jackson Square Capital LLC increased its stake in shares of MSC Industrial Direct by 14.3% in the third quarter. Jackson Square Capital LLC now owns 3,077 shares of the industrial products company's stock worth $284,000 after buying an additional 386 shares during the last quarter. Oak Thistle LLC increased its stake in shares of MSC Industrial Direct by 46.6% in the third quarter. Oak Thistle LLC now owns 5,033 shares of the industrial products company's stock worth $464,000 after buying an additional 1,600 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of MSC Industrial Direct by 161.7% in the third quarter. Aaron Wealth Advisors LLC now owns 6,716 shares of the industrial products company's stock worth $619,000 after buying an additional 4,150 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of MSC Industrial Direct by 169.0% in the second quarter. Corient Private Wealth LLC now owns 7,194 shares of the industrial products company's stock worth $612,000 after buying an additional 4,520 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

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.

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