Watsco (NYSE:WSO) Price Target Raised to $460.00

Watsco (NYSE:WSO - Get Free Report) had its target price increased by Robert W. Baird from $420.00 to $460.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the construction company's stock. Robert W. Baird's target price suggests a potential upside of 3.64% from the company's current price.

Watsco Stock Performance

WSO stock traded up $3.23 during mid-day trading on Thursday, hitting $443.83. The company had a trading volume of 482,385 shares, compared to its average volume of 348,324. The stock's fifty day moving average price is $410.19 and its two-hundred day moving average price is $399.13. Watsco has a 12 month low of $315.17 and a 12 month high of $451.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The firm has a market cap of $17.53 billion, a PE ratio of 32.78 and a beta of 0.90.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned $2.83 EPS. The business's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Watsco will post 14.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Watsco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new position in Watsco in the 4th quarter worth approximately $25,000. First PREMIER Bank purchased a new stake in shares of Watsco in the 1st quarter valued at $25,000. Contravisory Investment Management Inc. purchased a new stake in shares of Watsco in the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Watsco in the 4th quarter valued at $28,000. Finally, Rise Advisors LLC purchased a new stake in shares of Watsco in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.