Shares of WESCO International, Inc. (NYSE:WCC) have been given a consensus recommendation of “Buy” by the nineteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $66.18.
Several brokerages recently issued reports on WCC. Robert W. Baird reissued a “hold” rating and set a $56.00 price target on shares of WESCO International in a report on Wednesday, October 4th. Standpoint Research downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $64.00 price target on shares of WESCO International in a report on Thursday, October 12th. Royal Bank Of Canada reissued a “hold” rating on shares of WESCO International in a report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th.
WESCO International (NYSE WCC) traded down 0.25% during midday trading on Thursday, reaching $59.80. 134,319 shares of the company traded hands. WESCO International has a 12 month low of $48.95 and a 12 month high of $76.15. The firm’s 50 day moving average price is $55.98 and its 200 day moving average price is $58.02. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 28.35 and a beta of 1.80.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.04. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $1.02 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect that WESCO International will post $3.74 earnings per share for the current year.
In related news, CFO David S. Schulz bought 4,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $51.57 per share, with a total value of $206,280.00. Following the completion of the purchase, the chief financial officer now owns 9,000 shares in the company, valued at approximately $464,130. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors Inc. raised its stake in shares of WESCO International by 20.3% in the second quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock worth $142,710,000 after acquiring an additional 420,292 shares during the last quarter. Investec Asset Management LTD grew its position in shares of WESCO International by 24.5% during the 2nd quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock worth $63,236,000 after buying an additional 217,004 shares during the period. Polaris Capital Management LLC grew its position in shares of WESCO International by 1.5% during the 2nd quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock worth $32,381,000 after buying an additional 8,500 shares during the period. Bank of New York Mellon Corp grew its position in shares of WESCO International by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock worth $25,051,000 after buying an additional 22,204 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of WESCO International by 15.1% during the 1st quarter. Geode Capital Management LLC now owns 347,305 shares of the technology company’s stock worth $24,155,000 after buying an additional 45,629 shares during the period. 98.14% of the stock is owned by institutional investors.
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About WESCO International
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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