Watsco, Inc. (NYSE:WSO) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, August 8th.
Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 target price (up from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price objective (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. Finally, Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $160.00 in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $163.20.
Shares of Watsco (NYSE WSO) traded down 1.12% during midday trading on Tuesday, reaching $145.26. 277,248 shares of the company traded hands. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55. The stock’s 50-day moving average is $150.90 and its 200-day moving average is $146.83. The stock has a market capitalization of $4.75 billion, a P/E ratio of 26.86 and a beta of 0.83.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. Watsco’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. Equities analysts predict that Watsco will post $5.78 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of WSO. BlackRock Inc. boosted its position in shares of Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock worth $380,367,000 after buying an additional 2,610,583 shares during the last quarter. Vanguard Group Inc. boosted its stake in Watsco by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock worth $383,810,000 after buying an additional 34,943 shares in the last quarter. FMR LLC boosted its stake in Watsco by 10.7% in the second quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock worth $157,826,000 after buying an additional 99,041 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Watsco by 54.7% in the second quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock worth $134,994,000 after buying an additional 309,675 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Watsco by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 835,734 shares of the construction company’s stock worth $119,661,000 after buying an additional 60,535 shares in the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.
Watsco Company Profile
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.
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