MSC Industrial Direct (NYSE:MSM) Price Target Raised to $95.00 at Robert W. Baird

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price objective upped by equities researchers at Robert W. Baird from $84.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price target would indicate a potential upside of 6.07% from the stock's previous close.

MSM has been the subject of a number of other reports. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a report on Tuesday, May 27th. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report 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. Stephens increased their target price 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. Finally, Loop Capital lowered their price target on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct Trading Down 0.8%

NYSE MSM traded down $0.76 during trading hours on Wednesday, hitting $89.56. 1,124,968 shares of the company's stock were exchanged, compared to its average volume of 624,916. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.92. The firm has a market capitalization of $4.99 billion, a P/E ratio of 23.63 and a beta of 0.87. The business's 50 day moving average is $80.31 and its 200-day moving average is $79.31. MSC Industrial Direct has a 12-month low of $68.10 and a 12-month high of $91.05.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.69% and a return on equity of 16.06%. The business had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same period last year, the company earned $1.33 earnings per share. The company's quarterly revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

Insider Activity at MSC Industrial Direct

In related news, Director Mitchell Jacobson acquired 27,642 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the transaction, the director directly owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On MSC Industrial Direct

Hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of MSC Industrial Direct by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 20,179 shares of the industrial products company's stock valued at $1,507,000 after buying an additional 130 shares in the last quarter. Covestor Ltd grew its holdings in shares of MSC Industrial Direct by 6.6% in the 4th quarter. Covestor Ltd now owns 2,325 shares of the industrial products company's stock worth $174,000 after acquiring an additional 143 shares during the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of MSC Industrial Direct by 4.5% during the first quarter. Beverly Hills Private Wealth LLC now owns 3,755 shares of the industrial products company's stock worth $292,000 after purchasing an additional 163 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of MSC Industrial Direct by 0.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 38,611 shares of the industrial products company's stock worth $2,884,000 after purchasing an additional 166 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of MSC Industrial Direct by 6.1% during the first quarter. Parallel Advisors LLC now owns 3,792 shares of the industrial products company's stock valued at $295,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 79.26% of the company's stock.

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.