Credit Suisse Group set a $93.00 price objective on MSC Industrial Direct Company, Inc. (NYSE:MSM) in a research report released on Friday morning. The brokerage currently has a buy rating on the industrial products company’s stock.

MSM has been the subject of several other reports. J P Morgan Chase & Co cut shares of MSC Industrial Direct from an overweight rating to a neutral rating and decreased their target price for the stock from $80.00 to $76.00 in a report on Friday, August 4th. BMO Capital Markets decreased their target price on shares of MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating for the company in a report on Friday, July 14th. Susquehanna Bancshares Inc assumed coverage on shares of MSC Industrial Direct in a report on Monday, September 25th. They issued a neutral rating and a $77.00 target price for the company. Zacks Investment Research cut shares of MSC Industrial Direct from a buy rating to a hold rating in a report on Friday, July 14th. Finally, KeyCorp reiterated a hold rating on shares of MSC Industrial Direct in a report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. MSC Industrial Direct currently has an average rating of Hold and a consensus target price of $89.38.

MSC Industrial Direct (NYSE:MSM) opened at 76.07 on Friday. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The stock has a market cap of $4.33 billion, a P/E ratio of 18.97 and a beta of 0.54. The company’s 50 day moving average is $71.26 and its 200 day moving average is $81.42.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 20.05%. The company had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. During the same period last year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that MSC Industrial Direct will post $3.97 earnings per share for the current year.

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In related news, Director Philip Peller purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the director now owns 2,422 shares in the company, valued at approximately $174,384. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.28% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of MSC Industrial Direct by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 8 shares during the period. QS Investors LLC boosted its holdings in shares of MSC Industrial Direct by 0.5% during the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 8 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MSC Industrial Direct by 0.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,882 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 22 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of MSC Industrial Direct by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,580 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 29 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of MSC Industrial Direct by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 3,608 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 75.58% 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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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