Watsco, Inc. (WSO) Receives $162.00 Average Target Price from Brokerages
Watsco, Inc. (NYSE:WSO) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $162.00.
Several equities research analysts have weighed in on WSO shares. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a report on Tuesday, June 27th. BidaskClub downgraded Watsco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Morgan Stanley reissued an “underweight” rating and issued a $141.00 price target (up previously from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Stifel Nicolaus reissued a “buy” rating and issued a $176.00 price target (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. Finally, Wolfe Research started coverage on Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company.
Watsco (WSO) traded down 1.24% during trading on Friday, hitting $146.32. The stock had a trading volume of 162,015 shares. Watsco has a 52-week low of $128.60 and a 52-week high of $159.55. The stock has a market capitalization of $4.78 billion, a PE ratio of 27.06 and a beta of 0.82. The stock’s 50-day moving average is $148.23 and its 200-day moving average is $146.04.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. On average, analysts predict that Watsco will post $5.78 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in WSO. Flinton Capital Management LLC raised its stake in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after purchasing an additional 64 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after purchasing an additional 600 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of Watsco in the second quarter worth about $125,000. Creative Planning raised its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after purchasing an additional 14 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.
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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