MSC Industrial Direct Co Inc (MSM) is Downgraded by Credit Suisse to Underperform

MSC Industrial Direct Co Inc (MSM) was Downgraded by Credit Suisse to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 17, 2016.

Many Wall Street Analysts have commented on MSC Industrial Direct Co Inc. Barclays Downgraded MSC Industrial Direct Co Inc on May 25, 2016 to ” Underweight”, Price Target of the shares are set at $64.MSC Industrial Direct Co Inc was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016.

On the company’s financial health, MSC Industrial Direct Co Inc reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 6, 2016. Analyst had a consensus of $0.77. The company had revenue of $684.10 million for the quarter, compared to analysts expectations of $686.39 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

MSC Industrial Direct Co Inc closed down -0.21 points or -0.29% at $71.98 with 4,53,281 shares getting traded on Wednesday. Post opening the session at $72.16, the shares hit an intraday low of $71.78 and an intraday high of $72.7 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 19, 2016, David Sandler (Executive Vice Chairman) sold 1,500 shares at $74.50 per share price. According to the SEC, 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.

MSC Industrial Direct Co Inc

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