Watsco, Inc. (NYSE:WSO) Receives Consensus Rating of “Hold” from Analysts


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Watsco, Inc. (NYSE:WSO) has received a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $198.40.

WSO has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Watsco from $175.00 to $185.00 and gave the stock an “underweight” rating in a report on Wednesday, October 7th. BidaskClub upgraded Watsco from a “sell” rating to a “hold” rating in a report on Wednesday, December 16th. Morgan Stanley raised their price objective on Watsco from $203.00 to $219.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. Finally, Stephens initiated coverage on Watsco in a report on Thursday, October 15th. They set an “equal weight” rating on the stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. HM Payson & Co. raised its position in shares of Watsco by 170.0% in the 3rd quarter. HM Payson & Co. now owns 405 shares of the construction company’s stock worth $94,000 after buying an additional 255 shares during the period. Strs Ohio purchased a new position in Watsco in the third quarter valued at about $1,532,000. Brinker Capital Investments LLC purchased a new position in Watsco in the third quarter valued at about $2,396,000. Schonfeld Strategic Advisors LLC purchased a new position in Watsco in the third quarter valued at about $711,000. Finally, Public Employees Retirement System of Ohio raised its position in Watsco by 3.3% in the third quarter. Public Employees Retirement System of Ohio now owns 13,171 shares of the construction company’s stock valued at $3,067,000 after purchasing an additional 419 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:WSO opened at $226.55 on Friday. The business’s fifty day moving average price is $227.31 and its two-hundred day moving average price is $222.65. The stock has a market cap of $8.72 billion, a PE ratio of 37.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.22 and a current ratio of 2.55. Watsco has a one year low of $132.97 and a one year high of $249.30.

Watsco (NYSE:WSO) last announced its earnings results on Thursday, October 22nd. The construction company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.23. Watsco had a return on equity of 13.38% and a net margin of 4.77%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. Watsco’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Watsco will post 6.48 earnings per share for the current fiscal year.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Analyst Recommendations for Watsco (NYSE:WSO)

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