WESCO International (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, February 10th. The brokerage presently has a $69.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.81% from the stock’s current price.
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.”
A number of other analysts have also recently commented on the stock. Robert W. Baird restated a “hold” rating and set a $67.00 price target on shares of WESCO International in a research note on Friday, October 27th. Wolfe Research cut shares of WESCO International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. ValuEngine upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Credit Suisse Group set a $70.00 price target on shares of WESCO International and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, Wells Fargo & Co increased their price target on shares of WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.77.
Shares of WESCO International (WCC) opened at $64.00 on Friday. WESCO International has a 52-week low of $48.95 and a 52-week high of $73.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.42. The stock has a market cap of $3,008.13, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.86.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, February 1st. The technology company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. WESCO International had a net margin of 2.13% and a return on equity of 9.10%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. equities analysts predict that WESCO International will post 4.67 earnings per share for the current fiscal year.
WESCO International declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director James Louis Singleton sold 3,288 shares of WESCO International stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $64.25, for a total transaction of $211,254.00. Following the completion of the transaction, the director now directly owns 19,477 shares of the company’s stock, valued at approximately $1,251,397.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in WESCO International in the fourth quarter worth about $140,000. ETRADE Capital Management LLC purchased a new position in WESCO International in the fourth quarter worth about $201,000. Capital Fund Management S.A. purchased a new position in WESCO International in the fourth quarter worth about $218,000. Janney Capital Management LLC raised its holdings 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 worth $302,000 after buying an additional 1,672 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in WESCO International in the fourth quarter worth about $375,000. 99.31% of the stock is owned by institutional investors and hedge funds.
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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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