Watsco (NYSE:WSO) Price Target Raised to $550.00 at Robert W. Baird

Watsco (NYSE:WSO) had its target price hoisted by Robert W. Baird from $522.00 to $550.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target would indicate a potential upside of 11.41% from the stock’s current price.

Separately, JPMorgan Chase & Co. lifted their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Stock Performance

Shares of Watsco stock opened at $493.65 on Wednesday. Watsco has a 52 week low of $338.58 and a 52 week high of $520.41. The company has a 50 day moving average price of $479.54 and a 200 day moving average price of $471.16. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.91 billion, a P/E ratio of 37.77 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $4.42 earnings per share. Sell-side analysts expect that Watsco will post 13.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its stake in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. CWM LLC raised its position in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares during the period. Mather Group LLC. raised its stake in shares of Watsco by 10.2% during the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares during the period. EntryPoint Capital LLC boosted its holdings in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

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.