Insider Selling: Timothy A. Hibbard Sells 3,816 Shares of WESCO International Stock (WCC)
WESCO International (NYSE:WCC) Insider Timothy A. Hibbard sold 3,816 shares of the company’s stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $91.23, for a total value of $348,133.68. Following the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at approximately $168,046. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of WESCO International (NYSE:WCC) traded up 1.55% during mid-day trading on Monday, hitting $92.61. 517,991 shares of the company’s stock traded hands. WESCO International has a 52-week low of $64.26 and a 52-week high of $94.75. The stock has a 50-day moving average of $86.46 and a 200-day moving average of $86.27. The company has a market cap of $4.116 billion and a P/E ratio of 19.74.
WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $1.81 million for the quarter, compared to the consensus estimate of $1.83 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts predict that WESCO International will post $5.48 earnings per share for the current fiscal year.
A number of research firms have recently commented on WCC. Analysts at Morgan Stanley initiated coverage on shares of WESCO International in a research note on Tuesday, May 13th. They set an “equal weight” rating and a $92.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of WESCO International from an “overweight” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $93.00 price target on the stock, down previously from $94.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of WESCO International in a research note on Wednesday, April 30th. They now have a $91.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $95.36.
WESCO International, Inc (NYSE:WCC) is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government (CIG) markets.
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