Wesco International Inc. (WCC) Receives $57.18 Average PT from Brokerages
Shares of Wesco International Inc. (NYSE:WCC) have been assigned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the company. Twelve research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $57.18.
WCC has been the subject of several research reports. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Wesco International in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Wesco International from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday, October 3rd. Wells Fargo & Co. restated a “buy” rating on shares of Wesco International in a research note on Sunday, September 4th. Citigroup Inc. downgraded shares of Wesco International to a “market perform” rating and set a $65.00 price target for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Stephens upgraded shares of Wesco International from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 21st.
Wesco International (NYSE:WCC) opened at 66.55 on Wednesday. Wesco International has a 1-year low of $34.00 and a 1-year high of $66.70. The firm’s 50 day moving average price is $59.59 and its 200-day moving average price is $57.81. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 31.05 and a beta of 1.65.
Wesco International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The business earned $1.86 billion during the quarter, compared to analyst estimates of $1.91 billion. Wesco International had a return on equity of 9.75% and a net margin of 1.39%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. On average, equities analysts anticipate that Wesco International will post $3.79 earnings per share for the current year.
In other news, SVP Diane Lazzaris sold 5,028 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $64.65, for a total value of $325,060.20. Following the completion of the sale, the senior vice president now directly owns 23,542 shares of the company’s stock, valued at $1,521,990.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Louis Singleton sold 2,638 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $63.29, for a total transaction of $166,959.02. Following the completion of the sale, the director now directly owns 12,305 shares of the company’s stock, valued at $778,783.45. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Ronald Blue & Co. LLC acquired a new stake in shares of Wesco International during the third quarter worth approximately $210,000. Meeder Asset Management Inc. acquired a new stake in shares of Wesco International during the second quarter worth approximately $218,000. Janus Capital Management LLC acquired a new stake in shares of Wesco International during the second quarter worth approximately $278,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock worth $330,000 after buying an additional 500 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Wesco International during the second quarter worth approximately $334,000.
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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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