Watsco, Inc. (NYSE:WSO) Stock Rating Reaffirmed by Morgan Stanley

Watsco, Inc. (NYSE:WSO)‘s stock had its “underweight” rating restated by Morgan Stanley in a research note issued on Wednesday, July 26th. They currently have a $141.00 target price on the construction company’s stock, up from their prior target price of $139.00. Morgan Stanley’s price objective suggests a potential downside of 4.30% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wolfe Research initiated coverage on shares of Watsco in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 target price (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Finally, Seaport Global Securities raised shares of Watsco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $160.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Watsco currently has an average rating of “Hold” and a consensus target price of $163.20.

Shares of Watsco (NYSE:WSO) traded down 0.26% on Wednesday, reaching $147.33. The company’s stock had a trading volume of 205,787 shares. Watsco has a 12 month low of $128.60 and a 12 month high of $159.55. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 27.24 and a beta of 0.83. The stock has a 50 day moving average of $151.74 and a 200-day moving average of $147.07.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. On average, analysts anticipate that Watsco will post $5.78 EPS for the current year.

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Several large investors have recently modified their holdings of the stock. UBS Group AG increased its stake in shares of Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares during the last quarter. Private Trust Co. NA acquired a new stake in shares of Watsco during the first quarter worth about $463,000. Point72 Asset Management L.P. acquired a new stake in shares of Watsco during the first quarter worth about $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares during the last quarter. 81.16% of the stock is owned by hedge funds and other institutional investors.

About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Analyst Recommendations for Watsco (NYSE:WSO)

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