WESCO International, Inc. (WCC) Receives Average Rating of “Buy” from Analysts
Shares of WESCO International, Inc. (NYSE:WCC) have received an average rating of “Buy” from the seventeen ratings firms that are covering the firm. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $70.60.
WCC has been the topic of a number of recent research reports. Barclays PLC set a $65.00 price objective on WESCO International and gave the stock a “hold” rating in a research report on Thursday, January 26th. Zacks Investment Research upgraded shares of WESCO International from a “strong sell” rating to a “hold” rating in a research note on Monday, January 30th. TheStreet upgraded shares of WESCO International from a “c” rating to a “b-” rating in a research note on Tuesday, March 7th. Credit Suisse Group AG reiterated a “buy” rating and set a $83.00 target price on shares of WESCO International in a research note on Thursday, March 16th. Finally, Raymond James Financial, Inc. upgraded shares of WESCO International from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Wednesday, April 19th.
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Shares of WESCO International (NYSE:WCC) traded up 0.81% on Monday, reaching $62.50. The company had a trading volume of 15,873 shares. WESCO International has a 1-year low of $49.67 and a 1-year high of $76.15. The stock has a market capitalization of $3.05 billion, a P/E ratio of 29.72 and a beta of 1.69. The company’s 50 day moving average price is $64.95 and its 200-day moving average price is $67.39.
WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. WESCO International had a return on equity of 9.49% and a net margin of 1.38%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Equities analysts predict that WESCO International will post $3.85 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of WESCO International by 8.0% in the third quarter. Rhumbline Advisers now owns 35,966 shares of the technology company’s stock worth $2,212,000 after buying an additional 2,666 shares during the period. California State Teachers Retirement System raised its position in shares of WESCO International by 0.9% in the third quarter. California State Teachers Retirement System now owns 92,390 shares of the technology company’s stock worth $5,681,000 after buying an additional 800 shares during the period. Panagora Asset Management Inc. raised its position in shares of WESCO International by 2.9% in the third quarter. Panagora Asset Management Inc. now owns 263,950 shares of the technology company’s stock worth $16,230,000 after buying an additional 7,462 shares during the period. Russell Investments Group Ltd. bought a new position in shares of WESCO International during the fourth quarter worth $34,814,000. Finally, Frontier Capital Management Co. LLC raised its position in shares of WESCO International by 23.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 379,977 shares of the technology company’s stock worth $25,287,000 after buying an additional 72,051 shares during the period.
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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