MSC Industrial Direct (NYSE:MSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $110.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.59% from the stock’s previous close.

According to Zacks, “MSC Industrial Direct Co., Inc., together with its subsidiaries, markets and distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company’s MRO products comprise 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. It offers approximately 1,000,000 stock-keeping units through its master catalogs; weekly, monthly, and quarterly specialty and promotional catalogs; brochures; and the Internet, such as its Websites comprising mscdirect.com and use-enco.com. The company serves primarily through its distribution network of 85 branch offices and 12 customer fulfillment centers. “

A number of other research firms have also commented on MSM. Susquehanna Bancshares reiterated a “hold” rating and set a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. UBS Group lowered shares of MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a report on Thursday, January 4th. Raymond James Financial reiterated an “outperform” rating and set a $105.00 price target (up from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and issued a $112.00 price objective (up from $100.00) on shares of MSC Industrial Direct in a report on Tuesday. Finally, Stifel Nicolaus restated a “hold” rating and issued a $93.00 price objective on shares of MSC Industrial Direct in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and a consensus target price of $93.42.

Shares of MSC Industrial Direct (MSM) opened at $97.70 on Wednesday. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $105.70. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a market cap of $5,520.00, a price-to-earnings ratio of 24.18, a P/E/G ratio of 1.90 and a beta of 0.67.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The company had revenue of $753.80 million during the quarter, compared to analyst estimates of $745.80 million. During the same period in the prior year, the business posted $1.02 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. equities analysts anticipate that MSC Industrial Direct will post 4.45 earnings per share for the current fiscal year.

In other news, Director Mitchell Jacobson sold 13,582 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $81.91, for a total value of $1,112,501.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven N. Baruch sold 5,762 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Insiders sold a total of 225,541 shares of company stock valued at $18,264,812 over the last 90 days. Company insiders own 31.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MSM. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after buying an additional 123 shares during the period. PNC Financial Services Group Inc. grew its position in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after buying an additional 8 shares during the period. QS Investors LLC grew its position in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after buying an additional 8 shares during the period. Zions Bancorporation purchased a new stake in shares of MSC Industrial Direct in the 3rd quarter worth about $150,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of MSC Industrial Direct by 1,373.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after buying an additional 2,060 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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