Watsco (NYSE:WSO) Price Target Raised to $460.00 at Robert W. Baird

Watsco (NYSE:WSO) had its target price hoisted by equities researchers at Robert W. Baird from $420.00 to $460.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective suggests a potential upside of 4.40% from the company’s previous close.

Watsco Price Performance

Watsco stock opened at $440.60 on Thursday. Watsco has a 12 month low of $315.17 and a 12 month high of $451.29. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $17.40 billion, a PE ratio of 32.25 and a beta of 0.90. The stock has a 50-day moving average price of $410.19 and a two-hundred day moving average price of $399.13.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business earned $2.35 earnings per share. Watsco’s revenue was up 1.4% compared to the same quarter last year. Analysts expect that Watsco will post 14.19 EPS for the current year.

Institutional Investors Weigh In On Watsco

A number of hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its holdings in Watsco by 2.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,853 shares of the construction company’s stock worth $1,664,000 after purchasing an additional 87 shares in the last quarter. Dakota Wealth Management increased its holdings in Watsco by 2.2% in the first quarter. Dakota Wealth Management now owns 7,459 shares of the construction company’s stock worth $3,222,000 after purchasing an additional 161 shares in the last quarter. Harvey Investment Co. LLC bought a new stake in Watsco in the first quarter worth approximately $1,173,000. Simplicity Wealth LLC acquired a new stake in Watsco in the first quarter valued at approximately $276,000. Finally, Summit Trail Advisors LLC acquired a new stake in Watsco in the first quarter valued at approximately $234,000. 89.71% of the stock is currently owned by institutional investors.

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.