Credit Suisse Reinstates MSC Industrial Direct Co Inc to Underperform

Brokerage firm Credit Suisse Reinstates its rating on MSC Industrial Direct Co Inc(NYSE:MSM). The shares have been rated Underperform. The rating by Credit Suisse was issued on Aug 19, 2016.

In a different note, On Jul 7, 2016, Barclays said it Maintains its rating on MSC Industrial Direct Co Inc. In the research note, the firm Raises the price-target to $64.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 17, 2016, Credit Suisse said it Downgrades its rating on MSC Industrial Direct Co Inc. The shares have been rated ‘Underperform’ by the firm. On May 25, 2016, Barclays said it Downgrades its rating on MSC Industrial Direct Co Inc. The shares have been rated ‘Underweight’ by the firm.

MSC Industrial Direct Co Inc (MSM) made into the market gainers list on Mondays trading session with the shares advancing 0.49% or 0.36 points. Due to strong positive momentum, the stock ended at $74.05, which is also near the day’s high of $74.36. The stock began the session at $73.74 and the volume stood at 1,77,435 shares. The 52-week high of the shares is $78.35 and the 52 week low is $54.19. The company has a current market capitalization of $4,551 M and it has 6,14,59,916 shares in outstanding.

MSC Industrial Direct Co Inc(MSM) last announced its earnings results on Jul 6, 2016 for Fiscal Year 2016 and Q3.Earnings per share were $1.05.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, David Sandler (Executive Vice Chairman) sold 1,500 shares at $74.50 per share price.Also, On Apr 29, 2016, Christopher Davanzo (SVP, Finance and Controller) sold 2,106 shares at $76.74 per share price.On Apr 27, 2016, Steve Armstrong (SVP, GC and Corp. Secy.) sold 3,732 shares at $76.50 per share price, according to the Form-4 filing with the securities and exchange commission.

MSC Industrial Direct Co. Inc. (MSC) is direct marketers and distributors of a range of metalworking and maintenance repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States with customers in all 50 states through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States one is located in the United Kingdom and the other is located in Mexico). Its products represent a range of MRO products that include 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.

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