Goldman Sachs Begins Coverage on MSC Industrial Direct (MSM)

Investment analysts at Goldman Sachs assumed coverage on shares of MSC Industrial Direct (NYSE:MSM) in a research note issued to investors on Sunday, March 18th, Marketbeat reports. The brokerage set a “buy” rating and a $107.00 price target on the industrial products company’s stock. Goldman Sachs’ price target would suggest a potential upside of 18.08% from the company’s previous close.

MSM has been the topic of several other reports. Credit Suisse Group set a $100.00 price target on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. Raymond James Financial reissued an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of MSC Industrial Direct in a research report on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Wednesday, January 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $93.00 price objective on shares of MSC Industrial Direct in a research report on Monday, December 11th. Finally, Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $100.62.

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NYSE:MSM traded up $2.45 during mid-day trading on Friday, hitting $90.62. The company’s stock had a trading volume of 946,411 shares, compared to its average volume of 795,162. The firm has a market capitalization of $5,183.23, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.32 and a beta of 0.60. The company has a quick ratio of 1.04, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. MSC Industrial Direct has a fifty-two week low of $65.42 and a fifty-two week high of $99.94.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.02. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. The business had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $773.42 million. During the same period in the prior year, the firm earned $1.33 earnings per share. MSC Industrial Direct’s revenue was up 9.3% compared to the same quarter last year. research analysts expect that MSC Industrial Direct will post 5.13 EPS for the current year.

MSC Industrial Direct declared that its board has authorized a stock buyback program on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In related news, CEO Erik Gershwind sold 37,703 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $94.16, for a total transaction of $3,550,114.48. Following the completion of the sale, the chief executive officer now owns 117,885 shares in the company, valued at $11,100,051.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles Bonomo sold 1,800 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $92.19, for a total transaction of $165,942.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 771,391 shares of company stock worth $72,957,591. Corporate insiders own 31.28% of the company’s stock.

A number of large investors have recently modified their holdings of MSM. Nationwide Fund Advisors boosted its position in MSC Industrial Direct by 29.8% during the third quarter. Nationwide Fund Advisors now owns 160,541 shares of the industrial products company’s stock worth $12,132,000 after purchasing an additional 36,882 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in MSC Industrial Direct in the third quarter valued at approximately $857,000. Crossmark Global Holdings Inc. purchased a new stake in MSC Industrial Direct in the third quarter valued at approximately $493,000. Prudential Financial Inc. raised its stake in MSC Industrial Direct by 7.4% in the third quarter. Prudential Financial Inc. now owns 203,732 shares of the industrial products company’s stock valued at $15,396,000 after purchasing an additional 14,046 shares in the last quarter. Finally, Sei Investments Co. raised its stake in MSC Industrial Direct by 114.6% in the third quarter. Sei Investments Co. now owns 63,342 shares of the industrial products company’s stock valued at $4,787,000 after purchasing an additional 33,819 shares in the last quarter. Hedge funds and other institutional investors own 75.35% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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