Stephens Reiterates $169.00 Price Target for Watsco (WSO)

Watsco (NYSE:WSO) received a $169.00 price target from investment analysts at Stephens in a research report issued on Thursday. The brokerage currently has a “hold” rating on the construction company’s stock. Stephens’ target price suggests a potential upside of 2.44% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a research report on Monday, February 5th. KeyCorp reissued a “buy” rating on shares of Watsco in a research report on Friday, November 17th. Finally, Morgan Stanley boosted their price target on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Watsco currently has a consensus rating of “Buy” and a consensus price target of $170.71.

Watsco (NYSE WSO) opened at $164.98 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.42 and a current ratio of 3.13. The company has a market cap of $6,127.79, a price-to-earnings ratio of 30.50 and a beta of 0.87. Watsco has a 12 month low of $134.08 and a 12 month high of $182.79.

Watsco (NYSE:WSO) last issued its earnings results on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The firm had revenue of $964.35 million for the quarter, compared to analyst estimates of $965.85 million. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. analysts expect that Watsco will post 5.58 EPS for the current year.

In related news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.93% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after buying an additional 105,677 shares during the last quarter. State Street Corp raised its holdings in shares of Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after buying an additional 50,751 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Watsco by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 768,615 shares of the construction company’s stock valued at $130,696,000 after buying an additional 3,569 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Watsco by 0.8% in the third quarter. Baillie Gifford & Co. now owns 701,295 shares of the construction company’s stock valued at $112,958,000 after buying an additional 5,761 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Watsco by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 549,423 shares of the construction company’s stock valued at $88,496,000 after buying an additional 3,692 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Watsco (NYSE:WSO)

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