Watsco (NYSE:WSO) had its target price hoisted by equities researchers at Morgan Stanley from $233.00 to $244.00 in a research report issued on Monday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Morgan Stanley’s target price points to a potential downside of 12.24% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Jefferies Financial Group raised their target price on shares of Watsco from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Friday, January 15th. JPMorgan Chase & Co. upgraded shares of Watsco from an “underweight” rating to a “neutral” rating and raised their target price for the company from $185.00 to $218.00 in a research report on Monday, March 1st. William Blair restated an “outperform” rating on shares of Watsco in a research report on Wednesday, January 20th. Finally, Vertical Research upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Monday, January 4th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $228.00.
Shares of NYSE WSO traded up $1.92 during trading hours on Monday, hitting $278.02. 973 shares of the stock were exchanged, compared to its average volume of 196,148. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.22 and a current ratio of 2.55. The company has a market cap of $10.73 billion, a PE ratio of 45.58 and a beta of 0.79. The company’s fifty day simple moving average is $252.04 and its two-hundred day simple moving average is $238.69. Watsco has a 1-year low of $144.16 and a 1-year high of $277.28.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, February 11th. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.13. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Watsco had a net margin of 4.77% and a return on equity of 13.38%. As a group, sell-side analysts expect that Watsco will post 6.48 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in WSO. Great West Life Assurance Co. Can raised its stake in shares of Watsco by 132.7% during the third quarter. Great West Life Assurance Co. Can now owns 39,612 shares of the construction company’s stock valued at $1,320,000 after acquiring an additional 22,588 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Watsco during the third quarter valued at $1,145,000. Squarepoint Ops LLC raised its stake in shares of Watsco by 290.5% during the third quarter. Squarepoint Ops LLC now owns 11,595 shares of the construction company’s stock valued at $2,700,000 after acquiring an additional 8,626 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Watsco by 830.8% during the third quarter. AQR Capital Management LLC now owns 86,132 shares of the construction company’s stock valued at $20,059,000 after acquiring an additional 76,878 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Watsco during the third quarter worth $711,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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