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Zacks Investment Research Downgrades MSA Safety (NYSE:MSA) to Hold

Last updated on Wednesday, July 1st, 2020 by MarketBeat

MSA Safety (NYSE:MSA) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "MSA Safety Inc. is engaged in the development, manufacture and supply of safety products that protect people and facility infrastructures. The company's core product lines include self-contained breathing apparatus, fixed gas and flame detection systems, handheld gas detection instruments, industrial and fire service head protection products and fall protection devices. It serves a broad range of industries, including the oil, gas and petrochemical industry, the fire service, construction, mining and general industry. MSA Safety Inc., formerly known as Mine Safety Appliances Company, is headquartered in Cranberry Township, Pennsylvania. "

A number of other research firms have also recently issued reports on MSA. Sidoti upgraded MSA Safety from a "neutral" rating to a "buy" rating and set a $113.00 price objective for the company in a report on Tuesday, March 24th. CJS Securities began coverage on MSA Safety in a research note on Tuesday. They set a "buy" rating and a $138.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. MSA Safety presently has an average rating of "Buy" and a consensus price target of $131.25.

Shares of MSA opened at $112.07 on Wednesday. The business's 50 day moving average is $115.61 and its 200 day moving average is $119.74. The company has a current ratio of 2.66, a quick ratio of 1.92 and a debt-to-equity ratio of 0.55. MSA Safety has a 12-month low of $83.57 and a 12-month high of $142.34. The company has a market capitalization of $4.35 billion, a PE ratio of 28.09 and a beta of 1.08.

MSA Safety (NYSE:MSA) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.23. The firm had revenue of $341.15 million during the quarter, compared to analyst estimates of $314.57 million. MSA Safety had a net margin of 11.07% and a return on equity of 26.77%. MSA Safety's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities research analysts predict that MSA Safety will post 4.49 earnings per share for the current year.

In other MSA Safety news, VP Steven C. Sr. Blanco sold 9,585 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $124.00, for a total value of $1,188,540.00. Following the completion of the sale, the vice president now directly owns 18,214 shares in the company, valued at approximately $2,258,536. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diane M. Pearse sold 891 shares of MSA Safety stock in a transaction on Monday, May 11th. The stock was sold at an average price of $120.61, for a total value of $107,463.51. Following the transaction, the director now owns 30,654 shares in the company, valued at approximately $3,697,178.94. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. New Mexico Educational Retirement Board grew its stake in shares of MSA Safety by 39.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 8,500 shares of the industrial products company's stock valued at $860,000 after buying an additional 2,400 shares during the period. State of Tennessee Treasury Department lifted its holdings in MSA Safety by 10.3% in the first quarter. State of Tennessee Treasury Department now owns 45,155 shares of the industrial products company's stock valued at $4,570,000 after acquiring an additional 4,223 shares during the last quarter. Pantheon Investment Group LLC grew its position in MSA Safety by 18.3% in the first quarter. Pantheon Investment Group LLC now owns 19,755 shares of the industrial products company's stock worth $2,008,000 after acquiring an additional 3,054 shares during the period. The Manufacturers Life Insurance Company raised its position in MSA Safety by 3.2% in the first quarter. The Manufacturers Life Insurance Company now owns 72,411 shares of the industrial products company's stock valued at $7,328,000 after purchasing an additional 2,262 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new position in MSA Safety in the first quarter valued at about $900,000. 77.96% of the stock is currently owned by institutional investors.

MSA Safety Company Profile

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. It operates through Americas and International segments. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air.

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