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.
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.
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.
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.