UBS Group Has Lowered Expectations for Watsco (NYSE:WSO) Stock Price

Watsco (NYSE:WSO) had its price objective reduced by equities research analysts at UBS Group from $455.00 to $450.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. UBS Group’s price target would suggest a potential upside of 3.78% from the company’s current price.

A number of other analysts also recently weighed in on the company. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Morgan Stanley started coverage on Watsco in a research note on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price target for the company. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Finally, Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $485.83.

Watsco Stock Up 2.4%

Shares of Watsco stock opened at $433.60 on Wednesday. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 33.33 and a beta of 1.06. Watsco has a twelve month low of $418.31 and a twelve month high of $571.42. The company has a 50-day simple moving average of $455.86 and a two-hundred day simple moving average of $480.27.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. On average, sell-side analysts anticipate that Watsco will post 14.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AG2R LA Mondiale Gestion D Actifs bought a new position in Watsco in the 1st quarter valued at approximately $1,459,000. Voya Investment Management LLC increased its holdings in shares of Watsco by 23.1% during the first quarter. Voya Investment Management LLC now owns 16,218 shares of the construction company’s stock worth $8,244,000 after buying an additional 3,045 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Watsco by 3.1% in the 1st quarter. Inspire Investing LLC now owns 4,278 shares of the construction company’s stock valued at $2,175,000 after acquiring an additional 127 shares during the last quarter. Modern Wealth Management LLC lifted its stake in shares of Watsco by 16.8% in the 1st quarter. Modern Wealth Management LLC now owns 744 shares of the construction company’s stock valued at $378,000 after acquiring an additional 107 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Watsco during the 1st quarter valued at $1,242,000. 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.