Can Watsco, Inc. (WSO)’s Tomorrow be Different? The Stock Formed a Double Top Pattern

March 20, 2018 - By Rodney Autry

Investors sentiment increased to 1.58 in Q3 2017. Its up 0.13, from 1.45 in 2017Q2. It improved, as 29 investors sold Watsco, Inc. shares while 68 reduced holdings. 49 funds opened positions while 104 raised stakes. 28.54 million shares or 1.86% more from 28.02 million shares in 2017Q2 were reported.
Winfield stated it has 5 shares or 0% of all its holdings. Kentucky-based Teachers Retirement System Of The State Of Kentucky has invested 0.01% in Watsco, Inc. (NYSE:WSO). Neuberger Berman Group Incorporated Ltd Limited Liability Company owns 1.02 million shares. Guggenheim Capital Limited Company reported 4,783 shares. Moneta Group Investment Advisors Limited Liability Corp has invested 0.04% in Watsco, Inc. (NYSE:WSO). Stock Yards Comml Bank And Tru owns 49,962 shares. Wellington Mngmt Grp Limited Liability Partnership stated it has 0% in Watsco, Inc. (NYSE:WSO). Advantus Management reported 3,888 shares. 1,237 were accumulated by 1832 Asset Mgmt Lp. 4,000 were accumulated by Levin Capital Strategies Limited Partnership. 11,615 were reported by Loring Wolcott Coolidge Fiduciary Advsr Llp Ma. Chesley Taft And Associate Ltd Liability Co stated it has 4,575 shares or 0.06% of all its holdings. Brown Advisory invested in 14,590 shares. First Citizens Comml Bank And Tru Company has invested 0.05% in Watsco, Inc. (NYSE:WSO). Redmond Asset Ltd Liability Company holds 1.28% in Watsco, Inc. (NYSE:WSO) or 17,484 shares.

The chart of Watsco, Inc. (WSO) shows a double top with $187.45 target or 5.00 % above today’s $178.52 share price. The 6 months chart pattern indicates low risk for the $6.13 billion company. It was reported on Mar, 20 by If the $187.45 price target is reached, the company will be worth $306.40M more. Double tops are rare but powerful chart patterns.

The stock increased 0.42% or $0.74 during the last trading session, reaching $178.52. About 47,593 shares traded. Watsco, Inc. (NYSE:WSO) has risen 8.75% since March 20, 2017 and is uptrending. It has underperformed by 7.95% the S&P500.

Analysts await Watsco, Inc. (NYSE:WSO) to report earnings on April, 24. They expect $0.88 earnings per share, up 31.34 % or $0.21 from last year’s $0.67 per share. WSO’s profit will be $30.21M for 50.72 P/E if the $0.88 EPS becomes a reality. After $0.90 actual earnings per share reported by Watsco, Inc. for the previous quarter, Wall Street now forecasts -2.22 % negative EPS growth.

Watsco, Inc. (NYSE:WSO) Ratings Coverage

Among 11 analysts covering Watsco (NYSE:WSO), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. Watsco had 36 analyst reports since September 11, 2015 according to SRatingsIntel. The firm earned “Underweight” rating on Thursday, October 26 by Morgan Stanley. The stock of Watsco, Inc. (NYSE:WSO) has “Underweight” rating given on Wednesday, July 26 by Morgan Stanley. The firm has “Buy” rating given on Wednesday, February 15 by Stifel Nicolaus. The stock of Watsco, Inc. (NYSE:WSO) earned “Buy” rating by Robert W. Baird on Tuesday, October 3. The firm earned “Buy” rating on Friday, January 19 by Stifel Nicolaus. JP Morgan maintained Watsco, Inc. (NYSE:WSO) rating on Monday, February 12. JP Morgan has “Neutral” rating and $169 target. Stifel Nicolaus maintained it with “Buy” rating and $16800 target in Tuesday, July 25 report. Stifel Nicolaus maintained the shares of WSO in report on Thursday, February 8 with “Buy” rating. Seaport Global maintained the stock with “Accumulate” rating in Thursday, April 21 report. Barclays Capital maintained it with “Underweight” rating and $107 target in Monday, October 5 report.

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