Zacks Research Upgrades Watsco (NYSE:WSO) to “Hold”

Watsco (NYSE:WSO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

WSO has been the topic of a number of other research reports. Wolfe Research set a $349.00 price target on Watsco in a research note on Tuesday, December 9th. Mizuho dropped their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. William Blair reiterated a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. JPMorgan Chase & Co. lowered their price target on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Finally, KeyCorp reissued a “sector weight” rating on shares of Watsco in a report on Friday. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $422.71.

Watsco Price Performance

WSO stock traded up $3.14 during midday trading on Monday, hitting $345.03. The company’s stock had a trading volume of 85,268 shares, compared to its average volume of 363,122. The company’s fifty day moving average price is $354.03 and its 200 day moving average price is $402.22. Watsco has a twelve month low of $323.05 and a twelve month high of $535.40. The stock has a market capitalization of $13.99 billion, a P/E ratio of 26.98 and a beta of 1.01.

Watsco (NYSE:WSO) last released its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The business had revenue of $2.07 billion for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. Equities analysts expect that Watsco will post 14.62 EPS for the current fiscal year.

Institutional Trading of Watsco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Watsco by 1.9% during the first quarter. American Century Companies Inc. now owns 15,908 shares of the construction company’s stock valued at $8,086,000 after purchasing an additional 299 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Watsco during the first quarter valued at approximately $3,624,000. Brooklyn Investment Group lifted its holdings in Watsco by 44.7% during the first quarter. Brooklyn Investment Group now owns 165 shares of the construction company’s stock worth $84,000 after acquiring an additional 51 shares during the period. Northern Trust Corp boosted its position in Watsco by 0.7% in the first quarter. Northern Trust Corp now owns 335,584 shares of the construction company’s stock worth $170,577,000 after purchasing an additional 2,236 shares during the last quarter. Finally, Korea Investment CORP grew its stake in Watsco by 5.4% in the 1st quarter. Korea Investment CORP now owns 22,785 shares of the construction company’s stock valued at $11,582,000 after purchasing an additional 1,174 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Company Profile

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.