Shares of WESCO International, Inc. (NYSE:WCC) reached a new 52-week high during mid-day trading on Wednesday after Raymond James raised their price target on the stock from $80.00 to $100.00. Raymond James currently has a strong-buy rating on the stock. WESCO International traded as high as $87.47 and last traded at $85.67, with a volume of 1050 shares. The stock had previously closed at $85.67.
A number of other equities analysts also recently issued reports on WCC. ValuEngine upgraded WESCO International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 25th. Oppenheimer raised their price target on WESCO International from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Wolfe Research upgraded WESCO International from a “peer perform” rating to an “outperform” rating and raised their price target for the stock from $71.00 to $92.00 in a research note on Tuesday, December 8th. Stephens assumed coverage on WESCO International in a research note on Thursday, October 15th. They issued an “overweight” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on WESCO International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $62.36.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in WESCO International during the 3rd quarter valued at $36,000. Cerebellum GP LLC lifted its position in shares of WESCO International by 31.0% during the third quarter. Cerebellum GP LLC now owns 1,467 shares of the technology company’s stock worth $65,000 after purchasing an additional 347 shares during the last quarter. JBF Capital Inc. purchased a new position in shares of WESCO International during the third quarter valued at $77,000. Steward Partners Investment Advisory LLC increased its stake in shares of WESCO International by 516.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,157 shares of the technology company’s stock valued at $95,000 after buying an additional 1,807 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of WESCO International during the third quarter valued at $376,000.
The stock has a market cap of $4.22 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.93 and a beta of 2.09. The company has a quick ratio of 1.33, a current ratio of 2.36 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average price of $75.22 and a 200 day moving average price of $52.55.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.37 by $0.29. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.05 billion. WESCO International had a return on equity of 8.34% and a net margin of 1.42%. The business’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share. Equities analysts forecast that WESCO International, Inc. will post 4.85 earnings per share for the current year.
About WESCO International (NYSE:WCC)
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair, and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies; communication and metering devices, and racking systems; and solar modules, connectors, and storage batteries.
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