Stephens Increases MSC Industrial Direct (NYSE:MSM) Price Target to $90.00

MSC Industrial Direct (NYSE:MSM) had its target price raised by equities researchers at Stephens from $85.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Stephens’ price target indicates a potential upside of 0.03% from the stock’s previous close.

MSM has been the topic of several other research reports. Loop Capital decreased their target price on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Robert W. Baird decreased their price objective on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research note on Sunday, April 6th. Finally, Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.33.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $89.97 on Wednesday. The company has a market capitalization of $5.01 billion, a P/E ratio of 25.42 and a beta of 0.87. The business’s 50 day moving average is $80.82 and its two-hundred day moving average is $79.43. The company has a current ratio of 1.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 12-month low of $68.10 and a 12-month high of $90.85.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) 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 firm had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same quarter last year, the firm posted $1.33 EPS. The business’s revenue was down .8% on a year-over-year basis. Analysts expect that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

Insider Activity

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director directly owned 1,951,725 shares in the company, valued at approximately $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On MSC Industrial Direct

Several large investors have recently added to or reduced their stakes in MSM. Norges Bank purchased a new stake in shares of MSC Industrial Direct during the fourth quarter worth $34,735,000. Farther Finance Advisors LLC increased its holdings in 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 purchasing an additional 537 shares during the period. Two Sigma Investments LP purchased a new stake in MSC Industrial Direct during the 4th quarter worth about $1,463,000. Bank of New York Mellon Corp increased its holdings in MSC Industrial Direct by 9.7% during the 4th quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company’s stock worth $59,243,000 after purchasing an additional 70,076 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of MSC Industrial Direct during the fourth quarter worth approximately $920,000. 79.26% of the stock is 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.