Zacks Investment Research cut shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) from a buy rating to a hold rating in a report published on Friday.

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 research firms 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. J P Morgan Chase & Co began coverage on MSC Industrial Direct in a research report on Friday, June 2nd. They set an overweight rating and a $91.00 price target on the stock. Stifel Nicolaus reissued a hold rating and set a $88.00 price target (down from $92.00) on shares of MSC Industrial Direct in a research report on Monday, June 12th. Credit Suisse Group dropped their price target 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. Finally, Susquehanna Bancshares Inc began coverage on MSC Industrial Direct in a research report on Monday, September 25th. They set a neutral rating and a $77.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $89.38.

Shares of MSC Industrial Direct (MSM) traded up 0.88% during mid-day trading on Friday, reaching $75.57. The company’s stock had a trading volume of 599,826 shares. MSC Industrial Direct has a 52-week low of $65.42 and a 52-week high of $105.70. The company has a market capitalization of $4.30 billion, a PE ratio of 18.85 and a beta of 0.51. The firm’s 50 day moving average is $69.45 and its 200-day moving average is $83.70.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The firm had revenue of $743.90 million for the quarter, compared to analyst estimates of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. MSC Industrial Direct’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Analysts forecast that MSC Industrial Direct will post $3.97 EPS for the current year.

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In other news, Director Philip Peller purchased 1,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were acquired at an average price of $72.00 per share, with a total value of $72,000.00. Following the completion of the transaction, the director now owns 2,422 shares of the company’s stock, valued at approximately $174,384. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.28% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd boosted its position in shares of MSC Industrial Direct by 52.2% during the 2nd quarter. WINTON GROUP Ltd now owns 53,402 shares of the industrial products company’s stock worth $4,590,000 after purchasing an additional 18,313 shares in the last quarter. Koch Industries Inc. raised its holdings in shares of MSC Industrial Direct by 10,738.5% in the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 281,994 shares during the last quarter. Grandeur Peak Global Advisors LLC raised its holdings in shares of MSC Industrial Direct by 73.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 147,425 shares of the industrial products company’s stock worth $12,673,000 after acquiring an additional 62,425 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of MSC Industrial Direct by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,492 shares of the industrial products company’s stock worth $1,160,000 after acquiring an additional 271 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter worth about $275,000. 75.58% of the stock is currently owned by institutional investors.

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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