MSC Industrial Direct (NYSE:MSM) Upgraded at JPMorgan Chase & Co.

MSC Industrial Direct (NYSE:MSM) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a $89.00 price objective on the industrial products company’s stock, up from their previous price objective of $73.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 13.08% from the stock’s current price.

MSM has been the topic of a number of other reports. Robert W. Baird decreased their target price on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, April 4th. Loop Capital decreased their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research note on Sunday, April 6th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.40.

MSC Industrial Direct Stock Performance

MSM stock opened at $78.71 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. MSC Industrial Direct has a 1 year low of $68.10 and a 1 year high of $90.81. The company has a market cap of $4.39 billion, a P/E ratio of 18.78 and a beta of 0.90. The stock’s fifty day moving average price is $77.17 and its 200-day moving average price is $79.69.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $908.30 million. During the same period in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts forecast that MSC Industrial Direct will post 3.57 earnings per share for the current year.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were purchased at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the purchase, the director now owns 1,951,725 shares in the company, valued at $136,171,853.25. This represents a 1.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 18.30% of the company’s stock.

Institutional Trading of MSC Industrial Direct

Several institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in MSC Industrial Direct during the 4th quarter worth about $25,000. Clearstead Trust LLC purchased a new stake in shares of MSC Industrial Direct in the 1st quarter worth approximately $25,000. Investment Management Corp VA ADV boosted its stake in shares of MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the first quarter valued at approximately $32,000. Finally, Allworth Financial LP increased its holdings in MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $35,000 after buying an additional 342 shares during the period. Institutional investors own 79.26% of the company’s stock.

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.