Loop Capital Issues Pessimistic Forecast for MSC Industrial Direct (NYSE:MSM) Stock Price

MSC Industrial Direct (NYSE:MSM - Get Free Report) had its price target decreased by analysts at Loop Capital from $83.00 to $74.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Loop Capital's price objective would indicate a potential downside of 1.50% from the company's previous close.

MSM has been the topic of a number of other reports. Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Wolfe Research initiated coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an "outperform" rating and a $95.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $82.20.

MSC Industrial Direct Trading Up 7.1 %

NYSE MSM traded up $4.96 during trading on Friday, hitting $75.13. The stock had a trading volume of 724,778 shares, compared to its average volume of 627,313. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The stock has a 50 day simple moving average of $78.53 and a 200 day simple moving average of $80.94. MSC Industrial Direct has a one year low of $65.92 and a one year high of $94.31. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 17.93 and a beta of 0.89.

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MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. Sell-side analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current year.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson purchased 27,642 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.30% of the company's stock.

Institutional Trading of MSC Industrial Direct

Institutional investors have recently modified their holdings of the business. Barclays PLC boosted its position in shares of MSC Industrial Direct by 36.9% during the 3rd quarter. Barclays PLC now owns 25,490 shares of the industrial products company's stock worth $2,195,000 after purchasing an additional 6,864 shares in the last quarter. XTX Topco Ltd raised its position in shares of MSC Industrial Direct by 398.1% in the third quarter. XTX Topco Ltd now owns 15,860 shares of the industrial products company's stock valued at $1,365,000 after buying an additional 12,676 shares during the last quarter. Norges Bank acquired a new position in MSC Industrial Direct in the 4th quarter valued at $34,735,000. State of New Jersey Common Pension Fund D grew its position in shares of MSC Industrial Direct by 8.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 26,035 shares of the industrial products company's stock valued at $1,945,000 after purchasing an additional 2,136 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in MSC Industrial Direct by 16.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,146 shares of the industrial products company's stock valued at $19,892,000 after purchasing an additional 32,013 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Company Profile

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.