Watsco (NYSE:WSO) Price Target Raised to $560.00 at Robert W. Baird

Watsco (NYSE:WSO) had its price target boosted by analysts at Robert W. Baird from $540.00 to $560.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target would indicate a potential upside of 5.63% from the company’s current price.

Several other equities analysts have also recently commented on the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James began coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $495.00.

Watsco Stock Up 9.6 %

Shares of NYSE WSO opened at $530.16 on Wednesday. The company has a market cap of $21.41 billion, a P/E ratio of 40.97 and a beta of 0.95. Watsco has a 52 week low of $373.33 and a 52 week high of $571.41. The business has a 50-day simple moving average of $484.96 and a two-hundred day simple moving average of $491.61.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Equities research analysts anticipate that Watsco will post 13.03 EPS for the current year.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.86% of the stock is owned by insiders.

Institutional Trading of Watsco

A number of hedge funds have recently modified their holdings of the business. Rialto Wealth Management LLC bought a new position in shares of Watsco in the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco in the 3rd quarter worth about $43,000. Quarry LP lifted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Watsco during the 3rd quarter valued at $48,000. Institutional investors own 89.71% of the company’s stock.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.