MSC Industrial Direct (NYSE:MSM) Lowered to "Peer Perform" Rating by Wolfe Research

Key Points

• Wolfe Research has reaffirmed a "peer perform" rating for MSC Industrial Direct (NYSE:MSM), highlighting continued confidence in the company's stock amid various analyst ratings.
• Recent changes in MSC Industrial Direct's stock ratings include a downgrade from Zacks Research from "strong-buy" to "hold", while analysts from Stephens and Robert W. Baird raised their target price to $90.00 and $95.00, respectively.
• The stock has a current market price of $90.17 with a consensus target price of $90.33 and approximately 79.26% of shares are owned by institutional investors, indicating strong institutional interest.

MSC Industrial Direct (NYSE:MSM - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a report released on Wednesday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a "hold (c+)" rating on shares of MSC Industrial Direct in a research report on Saturday, September 27th. Zacks Research downgraded shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Stephens increased their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Loop Capital lifted their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Finally, Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $90.33.

MSC Industrial Direct Trading Down 2.1%

NYSE:MSM opened at $90.17 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $89.66 and a 200 day moving average of $84.04. The firm has a market capitalization of $5.02 billion, a P/E ratio of 25.47 and a beta of 0.95. MSC Industrial Direct has a 52 week low of $68.10 and a 52 week high of $94.31.

Insiders Place Their Bets

In related news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the completion of the sale, the senior vice president directly owned 14,657 shares of the company's stock, valued at $1,348,444. This trade represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in MSC Industrial Direct by 2.5% during the second quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company's stock worth $318,232,000 after acquiring an additional 92,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MSC Industrial Direct by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,781,503 shares of the industrial products company's stock valued at $138,369,000 after purchasing an additional 88,247 shares during the period. Boston Partners raised its stake in shares of MSC Industrial Direct by 22.9% in the 1st quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock valued at $136,867,000 after purchasing an additional 327,833 shares during the period. Invesco Ltd. increased its position in shares of MSC Industrial Direct by 2.8% in the first quarter. Invesco Ltd. now owns 1,240,418 shares of the industrial products company's stock valued at $96,343,000 after acquiring an additional 33,607 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of MSC Industrial Direct by 13.2% in the first quarter. Epoch Investment Partners Inc. now owns 1,089,926 shares of the industrial products company's stock valued at $84,655,000 after acquiring an additional 126,765 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

About MSC Industrial Direct

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.