MSC Industrial Direct (NYSE:MSM) Stock Price Expected to Rise, Loop Capital Analyst Says

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price objective hoisted by analysts at Loop Capital from $74.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the industrial products company's stock. Loop Capital's target price suggests a potential downside of 5.16% from the stock's previous close.

A number of other research firms have also issued reports on MSM. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Stephens upped their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research note on Sunday, April 6th. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Finally, Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has an average rating of "Moderate Buy" and a consensus target price of $90.33.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock traded down $1.75 during trading on Wednesday, reaching $88.57. 78,697 shares of the stock traded hands, compared to its average volume of 620,951. MSC Industrial Direct has a 52-week low of $68.10 and a 52-week high of $90.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.92 and a quick ratio of 0.88. The business has a fifty day simple moving average of $80.31 and a two-hundred day simple moving average of $79.31. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 23.39 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $971.15 million for the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.69%. MSC Industrial Direct's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 EPS. Sell-side analysts expect that MSC Industrial Direct will post 3.57 EPS for the current year.

Insider Activity at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the transaction, the director owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This represents a 1.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MSM. Clearstead Trust LLC acquired a new stake in MSC Industrial Direct during the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in shares of MSC Industrial Direct in the 4th quarter valued at about $25,000. Investment Management Corp VA ADV boosted its holdings in shares of MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after buying an additional 268 shares during the period. Neo Ivy Capital Management bought a new stake in shares of MSC Industrial Direct during the 1st quarter valued at about $32,000. Finally, Farther Finance Advisors LLC raised its stake in MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock worth $46,000 after acquiring an additional 537 shares during the period. Hedge funds and other institutional investors own 79.26% of the company's stock.

About MSC Industrial Direct

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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