MSC Industrial Direct (NYSE:MSM) Price Target Raised to $95.00

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price objective upped by investment analysts at Robert W. Baird from $84.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's target price indicates a potential upside of 5.59% from the stock's previous close.

Several other research firms have also issued reports on MSM. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Loop Capital reduced their price objective on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $73.00 to $89.00 in a research note on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. Finally, Stephens boosted 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 report on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct Stock Up 0.4%

Shares of NYSE MSM traded up $0.36 on Wednesday, reaching $89.97. 706,491 shares of the company's stock traded hands, compared to its average volume of 618,461. The business's 50 day simple moving average is $81.07 and its two-hundred day simple moving average is $79.50. MSC Industrial Direct has a 12 month low of $68.10 and a 12 month high of $90.85. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 25.42 and a beta of 0.87. The company has a quick ratio of 0.88, a current ratio of 1.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the company earned $1.33 EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts forecast 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 the firm's stock in a transaction dated Tuesday, April 8th. The stock was purchased at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the acquisition, the director directly owned 1,951,725 shares of the company's stock, valued at approximately $136,171,853.25. This trade represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MSC Industrial Direct

A number of hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of MSC Industrial Direct in the 4th quarter worth approximately $25,000. Clearstead Trust LLC bought a new stake in MSC Industrial Direct during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV increased its holdings in MSC Industrial Direct by 207.8% during the first 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 last quarter. Neo Ivy Capital Management bought a new position in MSC Industrial Direct in the first quarter worth approximately $32,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of MSC Industrial Direct by 895.0% during the 1st 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 last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

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.