WESCO International, Inc. (NYSE:WCC) Earns Outperform Rating from Wells Fargo & Company
WESCO International, Inc. (NYSE:WCC)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Wednesday, July 12th. They currently have a $70.00 price objective on the technology company’s stock, down from their prior price objective of $84.00. Wells Fargo & Company’s price objective points to a potential upside of 34.23% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Tuesday, March 28th. TheStreet lowered WESCO International from a “b-” rating to a “c” rating in a research note on Wednesday, June 14th. BidaskClub lowered WESCO International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Raymond James Financial, Inc. upgraded WESCO International from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research note on Wednesday, April 19th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $83.00 price target on shares of WESCO International in a research note on Thursday, March 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.19.
Shares of WESCO International (WCC) traded down 0.19% during mid-day trading on Wednesday, reaching $52.15. 507,590 shares of the company’s stock traded hands. The company has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 1.77. WESCO International has a 1-year low of $49.05 and a 1-year high of $76.15. The firm has a 50-day moving average price of $55.63 and a 200-day moving average price of $64.09.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.98 by $0.04. WESCO International had a return on equity of 9.19% and a net margin of 1.41%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that WESCO International will post $3.75 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of WCC. Tyers Asset Management LLC raised its stake in shares of WESCO International by 173.8% in the first quarter. Tyers Asset Management LLC now owns 8,848 shares of the technology company’s stock worth $615,000 after buying an additional 5,616 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of WESCO International by 173.8% in the first quarter. Elkfork Partners LLC now owns 12,166 shares of the technology company’s stock worth $846,000 after buying an additional 7,722 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock worth $17,791,000 after buying an additional 140,427 shares in the last quarter. Norges Bank acquired a new position in WESCO International during the fourth quarter valued at about $29,213,000. Finally, Parametric Portfolio Associates LLC raised its position in WESCO International by 5.6% in the first quarter. Parametric Portfolio Associates LLC now owns 166,246 shares of the technology company’s stock valued at $11,562,000 after buying an additional 8,852 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
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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