MSC Industrial Direct (NYSE:MSM) Price Target Raised to $96.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised the target price for MSC Industrial Direct from $93.00 to $96.00, indicating a potential upside of 7.40% from its current price.
• The stock currently has a consensus rating of Hold among analysts, with a consensus target price of $91.50.
• MSC Industrial Direct reported earnings of $1.09 EPS in its latest quarter, surpassing analysts' expectations of $1.03 EPS.

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $93.00 to $96.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 7.40% from the stock's current price.

MSM has been the subject of several other research reports. Zacks Research lowered shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 5th. Loop Capital lifted 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 report on Wednesday, July 2nd. Stephens increased their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. Finally, Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $91.50.

MSC Industrial Direct Price Performance

NYSE:MSM traded down $0.35 during midday trading on Friday, hitting $89.39. 46,025 shares of the stock were exchanged, compared to its average volume of 584,154. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 25.29 and a beta of 0.95. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a one year low of $68.10 and a one year high of $94.31. The business has a 50-day moving average price of $89.86 and a two-hundred day moving average price of $84.81.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.06. The company had revenue of $978.18 million for the quarter, compared to the consensus estimate of $964.03 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Sell-side analysts predict that MSC Industrial Direct will post 3.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company's stock valued at $53,000 after buying an additional 218 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of MSC Industrial Direct by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company's stock worth $463,000 after acquiring an additional 337 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in MSC Industrial Direct by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,078 shares of the industrial products company's stock valued at $705,000 after purchasing an additional 388 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in MSC Industrial Direct in the first quarter valued at about $897,000. Finally, Envestnet Asset Management Inc. increased its position in MSC Industrial Direct by 23.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 113,309 shares of the industrial products company's stock worth $8,801,000 after purchasing an additional 21,752 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

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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