WESCO International, Inc. (NYSE:WCC) was downgraded by Standpoint Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, October 18th, MarketBeat reports. The analysts noted that the move was a valuation call.
A number of other research firms have also recently commented on WCC. Robert W. Baird restated a “hold” rating and issued a $56.00 price objective on shares of WESCO International in a research report on Wednesday, October 4th. Wells Fargo & Company upped their price objective on shares of WESCO International from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 6th. BidaskClub upgraded shares of WESCO International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, July 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $68.00) on shares of WESCO International in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $68.46.
WESCO International (NYSE:WCC) traded up $0.15 during trading hours on Wednesday, hitting $62.80. The stock had a trading volume of 90,060 shares, compared to its average volume of 481,657. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.39. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15. The firm has a market capitalization of $3,005.52, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.62 and a beta of 1.95.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.17%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. analysts expect that WESCO International will post 3.87 earnings per share for the current fiscal year.
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In other WESCO International news, CFO David S. Schulz acquired 4,000 shares of WESCO International stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the purchase, the chief financial officer now directly owns 9,000 shares in the company, valued at approximately $464,130. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Janney Capital Management LLC acquired a new stake in WESCO International in the 2nd quarter valued at about $202,000. D.A. Davidson & CO. lifted its stake in WESCO International by 32.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after purchasing an additional 866 shares during the last quarter. Trust Co. of Vermont acquired a new stake in WESCO International in the 2nd quarter valued at about $229,000. Quantbot Technologies LP acquired a new stake in WESCO International in the 2nd quarter valued at about $238,000. Finally, OppenheimerFunds Inc. lifted its stake in WESCO International by 14.3% in the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after purchasing an additional 626 shares during the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.
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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