Buckingham Research Trims Watsco (NYSE:WSO) Target Price to $164.00

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Watsco (NYSE:WSO) had its target price lowered by Buckingham Research from $165.00 to $164.00 in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Watsco from a hold rating to a sell rating and set a $167.00 price objective for the company. in a research report on Saturday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $132.00 to $138.00 and gave the company an underweight rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $157.60.

WSO opened at $173.30 on Friday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.12 and a beta of 0.85. The company has a fifty day moving average of $166.02 and a 200 day moving average of $160.23. Watsco has a fifty-two week low of $131.88 and a fifty-two week high of $176.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 2.92.

Watsco (NYSE:WSO) last posted its earnings results on Thursday, October 17th. The construction company reported $2.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.23 by ($0.03). Watsco had a net margin of 5.29% and a return on equity of 15.41%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted $2.11 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Watsco will post 6.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. Watsco’s payout ratio is 98.61%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in shares of Watsco by 29.2% in the 2nd quarter. Baillie Gifford & Co. now owns 1,456,702 shares of the construction company’s stock worth $238,214,000 after buying an additional 329,126 shares during the last quarter. FMR LLC lifted its stake in Watsco by 1.5% during the 1st quarter. FMR LLC now owns 839,948 shares of the construction company’s stock valued at $120,289,000 after acquiring an additional 12,136 shares during the period. DAVENPORT & Co LLC lifted its stake in Watsco by 1.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 734,055 shares of the construction company’s stock valued at $121,347,000 after acquiring an additional 13,013 shares during the period. Wells Fargo & Company MN lifted its stake in Watsco by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 718,396 shares of the construction company’s stock valued at $117,478,000 after acquiring an additional 2,939 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Watsco by 1.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 695,045 shares of the construction company’s stock valued at $113,661,000 after acquiring an additional 7,965 shares during the period. Institutional investors own 77.07% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

Further Reading: Intrinsic Value

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