Wesco International Inc. (WCC) Rating Increased to Overweight at Stephens
Wesco International Inc. (NYSE:WCC) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Monday.
A number of other research analysts have also recently commented on WCC. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Wesco International in a research report on Sunday, September 4th. Zacks Investment Research cut Wesco International from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Citigroup Inc. cut Wesco International to a “market perform” rating and set a $65.00 price objective on the stock. in a report on Wednesday, September 7th. They noted that the move was a valuation call. Macquarie began coverage on Wesco International in a report on Thursday, August 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Finally, Standpoint Research raised Wesco International from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Thursday, August 25th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Wesco International currently has an average rating of “Hold” and a consensus target price of $60.13.
Wesco International (NYSE:WCC) traded down 0.23% on Monday, reaching $64.50. The company’s stock had a trading volume of 248,128 shares. Wesco International has a 52-week low of $34.00 and a 52-week high of $65.45. The firm has a market cap of $3.13 billion, a PE ratio of 30.10 and a beta of 1.65. The stock’s 50 day moving average price is $59.33 and its 200 day moving average price is $57.62.
Wesco International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.06. Wesco International had a net margin of 1.39% and a return on equity of 9.75%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Wesco International will post $3.79 earnings per share for the current fiscal year.
In other news, Director James Louis Singleton sold 2,638 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total transaction of $166,959.02. Following the transaction, the director now directly owns 12,305 shares in the company, valued at approximately $778,783.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WCC. Ronald Blue & Co. LLC bought a new position in Wesco International during the third quarter valued at about $210,000. Meeder Asset Management Inc. bought a new position in Wesco International during the second quarter valued at about $218,000. Janus Capital Management LLC bought a new position in Wesco International during the second quarter valued at about $278,000. Oregon Public Employees Retirement Fund raised its position in Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock valued at $330,000 after buying an additional 500 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new position in Wesco International during the second quarter valued at about $334,000.
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.
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