WESCO International (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm presently has a $69.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.52% from the company’s previous close.
According to Zacks, “WESCO reported strong fourth-quarter 2017 results. Both earnings and revenues increased on a year-over-year basis. Top-line growth was driven by strong end-market results, product and services portfolio strength and robust performance in certain geographies. Moreover, focus on growth and pricing strategies accelerated the sales number. The company continues with its focus on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions. However, supplier concentration, a significant debt load and limited liquidity remain concerns. In the past year, the stock has underperformed the industry it belongs to.”
Several other brokerages have also commented on WCC. Wells Fargo & Co boosted their price objective on WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. ValuEngine lowered WESCO International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Standpoint Research lowered WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. Wolfe Research lowered WESCO International from an “outperform” rating to a “market perform” rating in a report on Friday, October 27th. Finally, Credit Suisse Group set a $70.00 price objective on WESCO International and gave the stock an “outperform” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. WESCO International has an average rating of “Hold” and an average price target of $68.77.
WESCO International (WCC) opened at $63.00 on Friday. WESCO International has a twelve month low of $48.95 and a twelve month high of $73.30. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2,961.13, a PE ratio of 18.69, a PEG ratio of 1.35 and a beta of 1.86.
WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. WESCO International had a return on equity of 9.10% and a net margin of 2.13%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. WESCO International’s revenue was up 11.3% on a year-over-year basis. research analysts forecast that WESCO International will post 4.67 EPS for the current fiscal year.
WESCO International announced that its board has authorized a share buyback program on Wednesday, December 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other WESCO International news, Director James Louis Singleton sold 3,288 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total value of $211,254.00. Following the completion of the sale, the director now owns 19,477 shares in the company, valued at $1,251,397.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in WESCO International in the fourth quarter valued at approximately $140,000. Capital Fund Management S.A. bought a new stake in WESCO International in the fourth quarter valued at approximately $218,000. Janney Capital Management LLC lifted its position in WESCO International by 47.4% in the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock valued at $302,000 after purchasing an additional 1,672 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in WESCO International in the fourth quarter valued at approximately $375,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in WESCO International in the third quarter valued at approximately $502,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.
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WESCO International Company Profile
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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