TheStreet Downgrades WESCO International, Inc. (WCC) to C
WESCO International, Inc. (NYSE:WCC) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Wednesday.
A number of other equities research analysts also recently issued reports on the company. Credit Suisse Group increased their price objective on WESCO International from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Zacks Investment Research downgraded WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley upgraded WESCO International from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $79.00 to $74.00 in a research report on Tuesday, May 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 price objective on shares of WESCO International in a research report on Friday, April 28th. Finally, Raymond James Financial, Inc. upgraded WESCO International from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Wednesday, April 19th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.00.
WESCO International (NYSE WCC) traded down 1.21% during trading on Wednesday, reaching $57.30. The company’s stock had a trading volume of 763,003 shares. The stock’s 50 day moving average is $61.21 and its 200 day moving average is $67.37. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 27.25 and a beta of 1.73. WESCO International has a 12 month low of $49.67 and a 12 month high of $76.15.
WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. WESCO International had a return on equity of 7.43% and a net margin of 2.13%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $0.77 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that WESCO International will post $3.85 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ING Groep boosted its position in WESCO International by 4.4% in the third quarter. ING Groep now owns 172,365 shares of the technology company’s stock worth $8,006,000 after buying an additional 7,256 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of WESCO International by 5.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 264,276 shares of the technology company’s stock worth $11,544,000 after buying an additional 14,667 shares during the period. Russell Frank Co boosted its position in shares of WESCO International by 364.2% in the fourth quarter. Russell Frank Co now owns 28,820 shares of the technology company’s stock worth $1,278,000 after buying an additional 22,612 shares during the period. Eagle Asset Management bought a new position in shares of WESCO International during the third quarter worth about $26,438,000. Finally, KDI Capital Partners LLC bought a new position in shares of WESCO International during the fourth quarter worth about $3,710,000. 98.58% of the stock is currently owned by institutional investors and hedge funds.
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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