Loop Capital Lowers MSC Industrial Direct (NYSE:MSM) Price Target to $75.00

MSC Industrial Direct (NYSE:MSM) had its price objective reduced by Loop Capital from $80.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Loop Capital’s price objective points to a potential downside of 4.47% from the company’s previous close.

A number of other equities analysts also recently commented on MSM. Baird R W downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Stephens restated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. JPMorgan Chase & Co. lowered their target price on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. Finally, Robert W. Baird reduced their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $90.20.

MSC Industrial Direct Stock Down 1.9 %

NYSE MSM traded down $1.51 on Wednesday, reaching $78.51. The company had a trading volume of 541,322 shares, compared to its average volume of 534,043. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $105.77. The firm has a 50-day moving average of $86.66 and a 200-day moving average of $93.78. The firm has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.33. The company had revenue of $979.40 million during the quarter, compared to analysts’ expectations of $979.10 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 EPS. On average, equities research analysts anticipate that MSC Industrial Direct will post 4.89 EPS for the current fiscal year.

Institutional Trading of MSC Industrial Direct

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $25,000. Future Financial Wealth Managment LLC acquired a new position in MSC Industrial Direct during the first quarter valued at approximately $29,000. Bessemer Group Inc. raised its stake in MSC Industrial Direct by 261.7% during the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 280 shares in the last quarter. GAMMA Investing LLC acquired a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $40,000. Finally, Quarry LP bought a new stake in MSC Industrial Direct during the 4th quarter worth $40,000. 79.26% of the stock is owned by 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.