Robert W. Baird Issues Positive Forecast for MSC Industrial Direct (NYSE:MSM) Stock Price

MSC Industrial Direct (NYSE:MSM) had its price objective upped by Robert W. Baird from $84.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 5.59% from the stock’s previous close.

Other research analysts have also issued reports about the company. Loop Capital cut their target price on 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 MSC Industrial Direct from a “neutral” rating to an “overweight” rating and upped their target price for the company from $73.00 to $89.00 in a research note on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research note on Tuesday, May 27th. Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a research note on Sunday, April 6th. Finally, Stephens increased their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.33.

MSC Industrial Direct Stock Up 0.4%

MSM opened at $89.97 on Wednesday. MSC Industrial Direct has a 1-year low of $68.10 and a 1-year high of $90.85. The company has a current ratio of 1.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 25.42 and a beta of 0.87. The business has a 50 day moving average of $80.82 and a 200-day moving average of $79.43.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. MSC Industrial Direct’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, sell-side analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current year.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were bought at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.30% of the stock is owned by corporate insiders.

Institutional Trading of MSC Industrial Direct

Several large investors have recently made changes to their positions in MSM. Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct during the fourth quarter worth $25,000. Clearstead Trust LLC bought a new stake in shares of MSC Industrial Direct during the first quarter worth $25,000. Investment Management Corp VA ADV grew its holdings in shares of 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 worth $31,000 after purchasing an additional 268 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of MSC Industrial Direct during the first quarter worth $32,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of MSC Industrial Direct by 895.0% during the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

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.