MSC Industrial Direct (NYSE:MSM) Downgraded by Raymond James to “Market Perform”

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Raymond James lowered shares of MSC Industrial Direct (NYSE:MSM) from an outperform rating to a market perform rating in a report published on Thursday, BenzingaRatingsTable reports.

Several other equities analysts have also recently weighed in on the stock. Northcoast Research cut shares of MSC Industrial Direct from a buy rating to a neutral rating and dropped their price target for the company from $89.00 to $74.00 in a research report on Friday, July 12th. Stephens set a $82.00 price target on shares of MSC Industrial Direct and gave the company a hold rating in a research report on Monday, July 8th. Buckingham Research dropped their price target on shares of MSC Industrial Direct from $77.00 to $70.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Gordon Haskett cut shares of MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price target on the stock. in a research report on Monday, June 10th. Finally, Zacks Investment Research raised shares of MSC Industrial Direct from a sell rating to a hold rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $80.70.

NYSE MSM traded up $0.23 during trading hours on Thursday, hitting $72.22. The company’s stock had a trading volume of 567,194 shares, compared to its average volume of 435,534. MSC Industrial Direct has a 52 week low of $64.59 and a 52 week high of $90.25. The company has a market capitalization of $3.97 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. The company has a current ratio of 2.50, a quick ratio of 1.35 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $68.76 and its two-hundred day simple moving average is $75.50.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The business had revenue of $866.50 million during the quarter, compared to the consensus estimate of $881.62 million. During the same period in the previous year, the business posted $1.39 EPS. MSC Industrial Direct’s revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that MSC Industrial Direct will post 5.24 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $53,000. NumerixS Investment Technologies Inc increased its stake in shares of MSC Industrial Direct by 71.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 500 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $89,000. SRS Capital Advisors Inc. purchased a new stake in shares of MSC Industrial Direct during the 2nd quarter worth approximately $106,000. Finally, ETF Managers Group LLC increased its stake in shares of MSC Industrial Direct by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 75.36% 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 in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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