WESCO International (WCC) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a report released on Tuesday, November 14th. The firm currently has $69.00 price objective on the technology company’s stock.

According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Year to date, the stock has outperformed the industry it belongs to. The company’s third-quarter 2017 beat the Zacks Consensus Estimate on both counts. WESCO continues with its focus on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions by integrating its portfolio of products and services and its supplier relationships. WESCO has a comprehensive portfolio of products and services, and a sizable global footprint, which will help drive growth, going forward. However, foreign exchange risk, supplier concentration, a significant debt load and limited liquidity remain concerns.”

Other research analysts have also issued reports about the stock. Robert W. Baird restated a hold rating and set a $67.00 price target on shares of WESCO International in a research report on Friday, October 27th. KeyCorp reaffirmed a buy rating and set a $64.00 price objective on shares of WESCO International in a report on Thursday, October 12th. Wolfe Research downgraded shares of WESCO International from an outperform rating to a market perform rating in a research note on Friday, October 27th. Northcoast Research started coverage on shares of WESCO International in a research note on Tuesday, July 25th. They issued a buy rating and a $70.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of WESCO International from $67.00 to $75.00 and gave the company an outperform rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $68.38.

Shares of WESCO International (NYSE WCC) traded down $0.20 on Tuesday, hitting $65.35. The stock had a trading volume of 220,075 shares, compared to its average volume of 368,196. WESCO International has a 12 month low of $48.95 and a 12 month high of $76.15. The firm has a market cap of $3,070.00, a P/E ratio of 16.93, a PEG ratio of 1.69 and a beta of 1.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.42 and a current ratio of 2.31.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. equities research analysts predict that WESCO International will post 3.87 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Selway Asset Management grew its stake in WESCO International by 1.2% during the second quarter. Selway Asset Management now owns 25,100 shares of the technology company’s stock valued at $1,438,000 after acquiring an additional 300 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in WESCO International by 3.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 9,878 shares of the technology company’s stock valued at $566,000 after buying an additional 326 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in WESCO International by 14.3% during the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after buying an additional 626 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in WESCO International by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 81,095 shares of the technology company’s stock valued at $4,647,000 after buying an additional 659 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its holdings in WESCO International by 1.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 51,611 shares of the technology company’s stock valued at $2,957,000 after buying an additional 691 shares in the last quarter. 98.81% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “WESCO International (WCC) Upgraded to “Buy” at Zacks Investment Research” was first published by BBNS and is the sole property of of BBNS. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/zacks-investment-research-upgrades-wesco-international-inc-wcc-to-buy-2/1782962.html.

About WESCO International

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.

Get a free copy of the Zacks research report on WESCO International (WCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for WESCO International (NYSE:WCC)

Receive News & Ratings for WESCO International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.