Buckingham Research downgraded shares of WESCO International (NYSE:WCC) from a buy rating to a neutral rating in a report published on Friday, BenzingaRatingsTable reports.
Several other equities research analysts have also issued reports on WCC. Zacks Investment Research lowered WESCO International from a hold rating to a sell rating in a report on Tuesday, April 30th. ValuEngine lowered WESCO International from a sell rating to a strong sell rating in a report on Friday, July 12th. TheStreet lowered WESCO International from a b- rating to a c+ rating in a report on Friday, May 24th. William Blair lowered WESCO International from an outperform rating to a market perform rating in a report on Tuesday, May 7th. Finally, Northcoast Research lowered WESCO International from a buy rating to a neutral rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $61.71.
Shares of WESCO International stock opened at $45.01 on Friday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.83 and a beta of 1.73. The company has a current ratio of 2.18, a quick ratio of 1.31 and a debt-to-equity ratio of 0.63. WESCO International has a 52-week low of $43.77 and a 52-week high of $63.20. The firm’s 50-day moving average price is $49.60.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.01. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.17 billion. WESCO International had a return on equity of 10.56% and a net margin of 2.82%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. On average, equities research analysts predict that WESCO International will post 5.33 EPS for the current year.
In related news, Director Lynn M. Utter sold 1,513 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $48.97, for a total value of $74,091.61. Following the completion of the sale, the director now directly owns 11,151 shares in the company, valued at approximately $546,064.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John K. Morgan sold 3,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $51.29, for a total value of $157,819.33. Following the completion of the sale, the director now owns 25,984 shares of the company’s stock, valued at $1,332,719.36. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of WCC. Norges Bank acquired a new stake in WESCO International in the 4th quarter worth approximately $37,803,000. Diamond Hill Capital Management Inc. increased its position in WESCO International by 6,102.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 548,764 shares of the technology company’s stock worth $27,795,000 after buying an additional 539,917 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in WESCO International in the 1st quarter worth approximately $14,834,000. Foundry Partners LLC increased its position in WESCO International by 1,442.7% in the 2nd quarter. Foundry Partners LLC now owns 138,847 shares of the technology company’s stock worth $7,033,000 after buying an additional 129,847 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in WESCO International by 75.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 293,472 shares of the technology company’s stock worth $15,557,000 after buying an additional 125,940 shares during the period. Hedge funds and other institutional investors own 97.86% of the company’s stock.
WESCO International Company Profile
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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