MSC Industrial Direct (NYSE:MSM) Price Target Lowered to $73.00 at JPMorgan Chase & Co.

MSC Industrial Direct (NYSE:MSM) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $87.00 to $73.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 7.21% from the stock’s previous close.

MSM has been the subject of several other research reports. Robert W. Baird lifted their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Loop Capital reduced their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.20.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $78.67 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.41 billion, a PE ratio of 15.28 and a beta of 0.86. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $104.76. The company has a fifty day moving average price of $82.00 and a 200 day moving average price of $84.29.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company had revenue of $952.30 million for the quarter, compared to the consensus estimate of $959.74 million. During the same quarter in the prior year, the company earned $1.64 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts predict that MSC Industrial Direct will post 4.84 earnings per share for the current fiscal year.

Institutional Trading of MSC Industrial Direct

Institutional investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. acquired a new stake in shares of MSC Industrial Direct in the third quarter valued at approximately $205,000. Frank Rimerman Advisors LLC raised its holdings in MSC Industrial Direct by 2.4% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,925 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 161 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of MSC Industrial Direct by 67.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 22,693 shares of the industrial products company’s stock valued at $1,953,000 after acquiring an additional 9,147 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MSC Industrial Direct by 10.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,268 shares of the industrial products company’s stock worth $2,462,000 after purchasing an additional 2,726 shares in the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of MSC Industrial Direct by 27.0% during the 3rd quarter. Tectonic Advisors LLC now owns 62,343 shares of the industrial products company’s stock worth $5,365,000 after purchasing an additional 13,258 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.