WESCO International’s (NYSE:WCC) “Hold” Rating Reiterated at Robert W. Baird

WESCO International, Inc. (NYSE:WCC)‘s stock had its “hold” rating restated by analysts at Robert W. Baird in a report issued on Wednesday, October 4th. They currently have a $56.00 price target on the technology company’s stock. Robert W. Baird’s price target suggests a potential downside of 5.80% from the stock’s current price.

Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of WESCO International from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Credit Suisse Group set a $70.00 target price on shares of WESCO International and gave the stock a “buy” rating in a report on Saturday, June 10th. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Thursday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $68.00) on shares of WESCO International in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $66.21.

WESCO International (NYSE:WCC) opened at 59.45 on Wednesday. The stock’s 50 day moving average is $55.25 and its 200-day moving average is $58.14. The company has a market capitalization of $2.85 billion, a PE ratio of 28.19 and a beta of 1.80. WESCO International has a 12 month low of $48.95 and a 12 month high of $76.15.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. WESCO International’s revenue was down .1% on a year-over-year basis. On average, analysts expect that WESCO International will post $3.74 EPS for the current year.

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In other WESCO International news, CFO David S. Schulz bought 4,000 shares of WESCO International stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $51.57 per share, for a total transaction of $206,280.00. Following the completion of the purchase, the chief financial officer now directly owns 9,000 shares in the company, valued at approximately $464,130. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in WCC. Wasatch Advisors Inc. increased its stake in shares of WESCO International by 20.3% during the second quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock valued at $142,710,000 after buying an additional 420,292 shares during the period. Investec Asset Management LTD increased its stake in shares of WESCO International by 24.5% during the second quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after buying an additional 217,004 shares during the period. Bank of New York Mellon Corp increased its stake in shares of WESCO International by 62.8% during the first quarter. Bank of New York Mellon Corp now owns 414,981 shares of the technology company’s stock valued at $28,862,000 after buying an additional 160,123 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of WESCO International during the first quarter valued at $8,096,000. Finally, Geode Capital Management LLC increased its stake in shares of WESCO International by 15.1% during the first quarter. Geode Capital Management LLC now owns 347,305 shares of the technology company’s stock valued at $24,155,000 after buying an additional 45,629 shares during the period. Hedge funds and other institutional investors own 98.14% 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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