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What: Shares of metalworking specialist MSC Industrial Direct
So what: Driven by a solid 22% pop in revenue, MSC posted a quarterly profit of $0.78 per share, versus the average analyst estimate of just $0.70 per share. According to President and CEO David Sandler, the company has been benefiting of late from "excellent execution, stronger demand across our customers than originally anticipated and continued gains in market share."
Now what: Don't let today's rally scare you away from MSC. MSC's top and bottom line guidance for the third-quarter also managed to beat Wall Street's estimates, so it's clear that management expects the positive tailwinds to keep blowing. While its forward P/E of 20 doesn't make it super-cheap, MSC still seems like a reasonably priced bet given its very solid growth prospects.
Interested in more info on MSC? Add it to your watchlist.
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