MSC Industrial Direct Company, Inc. (NYSE:MSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $85.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.02% from the company’s previous close.

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 recently issued reports on MSM. BidaskClub raised shares of MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. Credit Suisse Group dropped their price objective on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a research note on Thursday, July 13th. TheStreet cut shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Finally, Northcoast Research started coverage on shares of MSC Industrial Direct in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $89.23.

MSC Industrial Direct (NYSE:MSM) opened at 75.21 on Wednesday. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70. The company has a market cap of $4.28 billion, a P/E ratio of 18.76 and a beta of 0.54. The company has a 50 day moving average of $71.78 and a 200-day moving average of $80.78.

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

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In other news, Director Philip Peller purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was acquired at an average price of $72.00 per share, with a total value of $72,000.00. Following the purchase, the director now directly owns 2,422 shares in the company, valued at approximately $174,384. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 31.28% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of MSC Industrial Direct by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock valued at $457,315,000 after buying an additional 37,928 shares during the period. BlackRock Inc. grew its stake in shares of MSC Industrial Direct by 7,681.5% in the 1st quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock valued at $382,836,000 after buying an additional 3,677,680 shares during the period. JPMorgan Chase & Co. grew its stake in shares of MSC Industrial Direct by 26.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock valued at $268,588,000 after buying an additional 649,201 shares during the period. Alliancebernstein L.P. grew its stake in shares of MSC Industrial Direct by 267.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock valued at $123,891,000 after buying an additional 1,048,714 shares during the period. Finally, State Street Corp grew its stake in shares of MSC Industrial Direct by 1.6% in the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after buying an additional 19,302 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

About MSC Industrial Direct

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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