MSC Industrial Direct (NYSE:MSM) Given New $80.00 Price Target at JPMorgan Chase & Co.

MSC Industrial Direct (NYSE:MSM) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $81.00 to $80.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.81% from the stock’s current price.

A number of other brokerages also recently commented on MSM. Loop Capital downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a report on Monday, June 17th. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a report on Friday, June 14th. Robert W. Baird lowered their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. StockNews.com downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Finally, KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.20.

MSC Industrial Direct Price Performance

MSM traded down $1.44 during midday trading on Wednesday, reaching $78.58. 41,724 shares of the company’s stock were exchanged, compared to its average volume of 530,061. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. The stock has a market capitalization of $4.42 billion, a PE ratio of 14.14 and a beta of 0.88. The business’s 50-day moving average price is $86.66 and its 200 day moving average price is $93.78. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $105.77.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates of $1.33. The business had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share. As a group, equities analysts anticipate that MSC Industrial Direct will post 4.89 EPS for the current fiscal year.

Institutional Investors Weigh In On MSC Industrial Direct

Several institutional investors have recently bought and sold shares of MSM. Norges Bank purchased a new position in shares of MSC Industrial Direct in the fourth quarter valued at $56,088,000. Hennessy Advisors Inc. acquired a new position in MSC Industrial Direct in the 4th quarter worth $21,649,000. Vanguard Group Inc. lifted its holdings in MSC Industrial Direct by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock worth $472,790,000 after buying an additional 197,193 shares in the last quarter. Swedbank AB acquired a new position in MSC Industrial Direct in the 1st quarter worth $16,571,000. Finally, Pacer Advisors Inc. lifted its holdings in MSC Industrial Direct by 23.0% in the 4th quarter. Pacer Advisors Inc. now owns 605,437 shares of the industrial products company’s stock worth $61,307,000 after buying an additional 113,068 shares in 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.