Shares of WESCO International, Inc. (NYSE:WCC) have received an average recommendation of “Hold” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $69.60.
A number of research analysts have commented on WCC shares. Robert W. Baird restated a “hold” rating and issued a $67.00 target price on shares of WESCO International in a research note on Friday, October 27th. Zacks Investment Research cut WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Wolfe Research cut WESCO International from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. ValuEngine raised WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Credit Suisse Group set a $70.00 price target on WESCO International and gave the stock an “outperform” rating in a research report on Tuesday, October 31st.
In related news, Director James Louis Singleton sold 3,288 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total transaction of $211,254.00. Following the completion of the transaction, the director now owns 19,477 shares of the company’s stock, valued at approximately $1,251,397.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn M. Utter sold 768 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $65.56, for a total value of $50,350.08. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of WCC. SG Americas Securities LLC acquired a new position in shares of WESCO International during the 4th quarter worth about $140,000. ETRADE Capital Management LLC acquired a new position in shares of WESCO International during the 4th quarter worth about $201,000. Capital Fund Management S.A. acquired a new position in shares of WESCO International during the 4th quarter worth about $218,000. Xact Kapitalforvaltning AB acquired a new position in shares of WESCO International during the 4th quarter worth about $288,000. Finally, Janney Capital Management LLC lifted its position in shares of WESCO International by 47.4% during the 3rd quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after purchasing an additional 1,672 shares during the last quarter. 99.31% of the stock is owned by institutional investors and hedge funds.
Shares of WESCO International (WCC) traded up $0.90 during midday trading on Wednesday, reaching $65.90. The company’s stock had a trading volume of 198,192 shares, compared to its average volume of 494,459. The company has a quick ratio of 1.42, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. WESCO International has a 1 year low of $48.95 and a 1 year high of $73.15. The stock has a market capitalization of $3,055.13, a P/E ratio of 19.55, a P/E/G ratio of 1.39 and a beta of 1.86.
WESCO International (NYSE:WCC) last issued its earnings results on Thursday, February 1st. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. WESCO International had a return on equity of 9.10% and a net margin of 2.13%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. equities research analysts forecast that WESCO International will post 4.67 EPS for the current fiscal year.
WESCO International declared that its board has authorized a stock repurchase program on Wednesday, December 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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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