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.
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.
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