MSC Industrial Direct (NYSE:MSM) Upgraded to Strong-Buy at Rothschild & Co Redburn

Key Points

• MSC Industrial Direct was upgraded to a strong-buy by Rothschild & Co Redburn, adding to a wave of bullish analyst actions on the stock.
• Recent analyst updates also included higher price targets and rating upgrades from firms like KeyCorp, DA Davidson, Wall Street Zen, and Zacks Research, with MarketBeat showing an average rating of Moderate Buy and an average price target of $123.43.
• The company reported better-than-expected quarterly results, posting EPS of $1.43 versus estimates of $1.28 and revenue of $1.05 billion, while the stock traded near its 52-week high at $123.96.

MSC Industrial Direct (NYSE:MSM - Get Free Report) was upgraded by analysts at Rothschild & Co Redburn to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on MSM. Wall Street Zen upgraded shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. KeyCorp lifted their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Zacks Research raised shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 2nd. DA Davidson increased their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group set a $130.00 target price on shares of MSC Industrial Direct in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $123.43.

MSC Industrial Direct Stock Up 0.8%

MSC Industrial Direct stock opened at $123.96 on Monday. The business's 50-day simple moving average is $113.60 and its two-hundred day simple moving average is $98.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The company has a market cap of $6.92 billion, a PE ratio of 29.94 and a beta of 0.83. MSC Industrial Direct has a fifty-two week low of $78.80 and a fifty-two week high of $127.51.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business posted $1.08 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that MSC Industrial Direct will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MSM. Royal Bank of Canada grew its stake in shares of MSC Industrial Direct by 4.8% during the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company's stock worth $3,650,000 after purchasing an additional 2,164 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of MSC Industrial Direct in the 1st quarter valued at $455,000. NewEdge Advisors LLC lifted its stake in shares of MSC Industrial Direct by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association purchased a new stake in MSC Industrial Direct during the first quarter worth $229,000. Finally, Empowered Funds LLC purchased a new stake in MSC Industrial Direct during the first quarter worth $816,000. 79.26% of the stock is owned by institutional investors and hedge funds.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc NYSE: MSM is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.

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