Watsco (NYSE:WSO) PT Raised to $425.00 at JPMorgan Chase & Co.

Watsco (NYSE:WSO) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $420.00 to $425.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 13.10% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird upped their target price on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus target price of $433.71.

Watsco Trading Up 1.6 %

Watsco stock traded up $7.90 during mid-day trading on Wednesday, hitting $489.04. 221,389 shares of the stock were exchanged, compared to its average volume of 317,455. The stock has a market capitalization of $19.71 billion, a price-to-earnings ratio of 37.53 and a beta of 0.88. Watsco has a 12 month low of $337.58 and a 12 month high of $520.41. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $481.99 and its two-hundred day simple moving average is $440.95.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.42 EPS. Analysts forecast that Watsco will post 14.21 EPS for the current year.

Insiders Place Their Bets

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares of the company’s stock, valued at $838,714.50. The disclosure for this sale can be found here. Company insiders own 12.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WSO. Wetzel Investment Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $25,000. First PREMIER Bank acquired a new stake in Watsco during the first quarter worth about $25,000. EntryPoint Capital LLC grew its holdings in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Watsco during the fourth quarter worth about $28,000. Finally, ORG Partners LLC acquired a new stake in Watsco during the first quarter worth about $31,000. 89.71% of the stock is owned by institutional investors and hedge funds.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.