Fly News Breaks for July 12, 2019
Jul 12, 2019 | 08:28 EDT
As previously reported, Northcoast analyst Tom Hayes downgraded MSC Industrial to Neutral from Buy following the company's report of weaker than expected organic sales growth and margin headwinds in Q3. The company's Q4 EPS guidance of $1.21-$1.27 was also well below the prior consensus of $1.48, noted Hayes, who sees indications of higher competition in a deteriorating industrial environment. He lowered his price target on MSC shares to $74 from $89.
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