Watsco (NYSE:WSO) Stock Price Expected to Rise, Loop Capital Analyst Says

Watsco (NYSE:WSO - Get Free Report) had its target price hoisted by equities research analysts at Loop Capital from $450.00 to $460.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the construction company's stock. Loop Capital's price target indicates a potential downside of 6.71% from the company's previous close.

Several other research firms have also commented on WSO. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Raymond James began coverage on Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $486.25.

Watsco Price Performance

NYSE:WSO traded down $11.25 during trading hours on Thursday, reaching $493.08. 283,374 shares of the company were exchanged, compared to its average volume of 253,567. The business has a 50 day moving average of $485.33 and a 200 day moving average of $493.65. Watsco has a 1-year low of $388.47 and a 1-year high of $571.41. The company has a market capitalization of $19.91 billion, a P/E ratio of 37.21 and a beta of 0.95.

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Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts anticipate that Watsco will post 14.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.86% of the company's stock.

Institutional Investors Weigh In On Watsco

A number of hedge funds and other institutional investors have recently bought and sold shares of WSO. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco in the 4th quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in Watsco during the 3rd quarter worth approximately $43,000. Quarry LP grew its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Watsco during the 3rd quarter worth approximately $48,000. Institutional investors own 89.71% of the company's stock.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.