Stock Analysis:Watsco (NYSE:WSO) Stock Target Increased
In recent note issued to clients and investors by JP Morgan on 11 December, Watsco (NYSE:WSO) had its price target boosted to $122.00. The firm currently has a solid Neutral rating on shares.
From a total of 10 analysts covering Watsco (NYSE:WSO) stock, 5 rate it a ”Buy”, 1 a “Sell”, and 7 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $140 while the lowest target price is $103. The mean of all analyst targets is $128.1 with a 5.62% above today’s ($120.62) stock price. Watsco was the topic of 6 analyst reports since September 11, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus initiated shares on November 25 with “Buy” rating.
Approximately 30,236 shares of stock traded hands. Watsco Inc (NYSE:WSO) has declined 2.05% since May 8, 2015 and is downtrending. It has outperformed by 0.96% the S&P500.
The overall sentiment of institutions has decreased to 1.08 in Q2 2015. Its down 0.29, from 1.37 in 2015Q2. The ratio worsened, as 22 institutions have sold all the shares of Watsco Inc that they owned while 81 funds have taken shares off the table. 35 funds have purchased shares for the first time while 76 added to their positions. These institutions now hold 21.35 million shares or 8.79% less than the 23.41 million shares they owned in 2015Q2.
The Fund Kdi Capital Partners Llc currently is holding shares equating to 7.79% of its total portfolio in Watsco Inc representing a total of 226,197 shares. Another fund,Scoria Capital Partners Lp, is holding a total of 182,012 shares equating to 5.35% of their holdings. Additionally, Oak Ridge Investments Llc has a 838,379 share stake in Watsco Inc which represents 2.37% of their total portfolio. The Fund, Irving Magee Investment Management, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.22% of their total portfolio. Finally Howland Capital Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 145,746 shares.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R). The company has a market cap of $4.32 billion. The Firm operates in the HVAC/R distribution industry in North America. It has 24.92 P/E ratio. It has market coverage on an export basis to Latin America and the Caribbean, through which it serves more than 50,000 contractors and dealers that service the replacement and new construction markets.
According to Zacks Investment Research, “Watsco, Inc. is one of the largest distributor of air conditioning and heating equipment and related parts and supplies in the United States. The company also sells products used in the refrigeration industry. Such products include condensing units, compressors, evaporators, valves, walk-in coolers and ice machines for industrial and commercial applications. The company distributes products manufactured by Copeland Compressor Corporation, Tecumseh Products Company, The Manitowoc Company, Inc. and Scotsman Industries, Inc.” Get a free copy of the Zacks research report on Watsco Inc (WSO).