Zacks Investment Research downgraded shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) from a buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
Several other brokerages have also weighed in on MSM. BidaskClub raised MSC Industrial Direct from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a market perform rating on shares of MSC Industrial Direct in a research report on Tuesday, September 12th. Credit Suisse Group cut their target price on MSC Industrial Direct from $100.00 to $93.00 and set an outperform rating on the stock in a research report on Thursday, July 13th. TheStreet lowered MSC Industrial Direct from a b rating to a c+ rating in a research report on Wednesday, August 16th. Finally, Northcoast Research started coverage on MSC Industrial Direct in a research report on Tuesday, July 25th. They issued a neutral rating on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $88.38.
Shares of MSC Industrial Direct (MSM) opened at 79.60 on Tuesday. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The stock has a 50 day moving average price of $74.05 and a 200-day moving average price of $79.68. The firm has a market capitalization of $4.53 billion, a PE ratio of 19.85 and a beta of 0.54.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 5.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 88 shares in the last quarter. Invictus RG increased its holdings in MSC Industrial Direct by 796.7% in the 1st quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 1,442 shares in the last quarter. QS Investors LLC increased its holdings in MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 8 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in MSC Industrial Direct in the 1st quarter valued at $217,000. Hedge funds and other institutional investors own 75.59% of the company’s stock.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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