Watsco, Inc. (NYSE:WSO) Receives $409.00 Consensus PT from Brokerages

Shares of Watsco, Inc. (NYSE:WSO) have been given an average rating of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $409.00.

Several research firms have recently weighed in on WSO. UBS Group began coverage on Watsco in a research report on Monday, January 5th. They set a “neutral” rating and a $370.00 target price for the company. Mizuho set a $425.00 price target on shares of Watsco in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Wolfe Research set a $349.00 price objective on shares of Watsco in a research report on Tuesday, December 9th. Finally, Morgan Stanley dropped their target price on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC bought a new stake in Watsco during the 4th quarter valued at $26,000. Bayban bought a new position in shares of Watsco during the 4th quarter worth $29,000. SJS Investment Consulting Inc. grew its position in shares of Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after buying an additional 71 shares in the last quarter. Bamco Inc. NY purchased a new position in shares of Watsco during the fourth quarter valued at $35,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Watsco during the third quarter valued at $37,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE WSO opened at $370.31 on Friday. The business’s 50 day moving average price is $392.37 and its 200-day moving average price is $373.23. Watsco has a fifty-two week low of $323.05 and a fifty-two week high of $518.00. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 30.58 and a beta of 1.06.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.26). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. Watsco had a return on equity of 15.49% and a net margin of 6.87%.Watsco’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.37 earnings per share. Sell-side analysts predict that Watsco will post 14.62 earnings per share for the current year.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.