Watsco Inc (WSO) is Downgraded by Seaport Global Securities to Neutral, Price Target at $150

Watsco Inc (WSO) was Downgraded by Seaport Global Securities to ” Neutral” and the brokerage firm has set the Price Target at $150. Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jul 25, 2016.

Many Wall Street Analysts have commented on Watsco Inc. Watsco Inc was Initiated by Susquehanna to “Positive” on Jun 1, 2016.

On the company’s financial health, Watsco Inc reported $1.82 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on Jul 22, 2016. Analyst had a consensus of $2.04. The company had revenue of $1214.40 million for the quarter, compared to analysts expectations of $1289.82 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.85 EPS.

Watsco Inc opened for trading at $139.97 and hit $141.21 on the upside on Wednesday, eventually ending the session at $140.89, with a gain of 1.14% or 1.59 points. The heightened volatility saw the trading volume jump to 1,37,818 shares. Company has a market cap of $4,997 M.

In a different news, on Dec 11, 2015, David C. Darnell (director) sold 3,000 shares at $121.66 per share price. According to the SEC, on Nov 12, 2015, Barry S Logan (Senior Vice President) sold 8,000 shares at $121.85 per share price.

Watsco Inc. (Watsco) is a distributor of air conditioning heating and refrigeration equipment and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. It has market coverage on an export basis to Latin America and the Caribbean through which it serves more than 50000 contractors and dealers that service the replacement and new construction markets. Watsco sells a line of products: equipment including residential central air conditioners component parts and supplies including thermostats insulation material refrigerants ductwork grills registers sheet metal tools copper tubing concrete pads tape adhesives and other ancillary supplies electric and oil furnaces among others. It also sells products to the refrigeration market which include condensing units compressors evaporators and valves among others.

Watsco Inc

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