WESCO International, Inc. (WCC) Downgraded by Standpoint Research to “Hold”

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.

Analyst Recommendations for WESCO International (NYSE:WCC)

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