Barclays Begins Coverage on MSC Industrial Direct (NYSE:MSM)

Research analysts at Barclays started coverage on shares of MSC Industrial Direct (NYSE:MSM) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “overweight” rating and a $152.00 price target on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 16.44% from the company’s current price.

Several other research analysts have also weighed in on the company. Jefferies Financial Group set a $130.00 target price on MSC Industrial Direct in a research report on Wednesday, July 1st. Rothschild & Co Redburn assumed coverage on shares of MSC Industrial Direct in a report on Monday, July 13th. They issued a “buy” rating and a $155.00 price objective for the company. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research lowered shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Finally, KeyCorp raised their price objective on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.63.

MSC Industrial Direct Trading Down 1.5%

NYSE MSM traded down $2.04 on Tuesday, hitting $130.54. 56,508 shares of the stock were exchanged, compared to its average volume of 720,685. The company’s 50-day moving average price is $122.77 and its two-hundred day moving average price is $114.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. MSC Industrial Direct has a 52-week low of $78.80 and a 52-week high of $133.65. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 31.43 and a beta of 0.82.

Institutional Investors Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently made changes to their positions in MSM. Auto Owners Insurance Co increased its stake in MSC Industrial Direct by 12,181.8% in the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock valued at $273,718,000 after buying an additional 3,228,170 shares during the last quarter. First Trust Advisors LP boosted its holdings in MSC Industrial Direct by 20.9% in the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock valued at $163,607,000 after purchasing an additional 306,436 shares during the period. State Street Corp boosted its holdings in MSC Industrial Direct by 3.7% in the 2nd quarter. State Street Corp now owns 1,463,620 shares of the industrial products company’s stock valued at $174,098,000 after purchasing an additional 52,860 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MSC Industrial Direct by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company’s stock worth $125,240,000 after acquiring an additional 14,484 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in MSC Industrial Direct by 43.0% in the 1st quarter. Deprince Race & Zollo Inc. now owns 705,775 shares of the industrial products company’s stock valued at $65,122,000 after purchasing an additional 212,074 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.