WESCO International, Inc. (NYSE:WCC) Coverage Initiated at Northcoast Research
Equities researchers at Northcoast Research initiated coverage on shares of WESCO International, Inc. (NYSE:WCC) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating and a $70.00 price target on the technology company’s stock. Northcoast Research’s price target would suggest a potential upside of 23.57% from the company’s current price.
Several other brokerages have also recently weighed in on WCC. Zacks Investment Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Tuesday, March 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $72.00 price target on shares of WESCO International in a research report on Friday, April 28th. TheStreet cut WESCO International from a “b-” rating to a “c” rating in a research report on Wednesday, June 14th. Credit Suisse Group upped their price target on WESCO International from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, June 12th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $68.00 price target (up from $65.00) on shares of WESCO International in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $69.25.
WESCO International (NYSE:WCC) traded up 2.21% during trading on Tuesday, reaching $57.90. 81,627 shares of the company were exchanged. WESCO International has a one year low of $51.45 and a one year high of $76.15. The firm’s 50 day moving average price is $57.33 and its 200-day moving average price is $65.02. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 27.53 and a beta of 1.79.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. WESCO International had a return on equity of 9.30% and a net margin of 1.41%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was down .2% on a year-over-year basis. On average, equities research analysts predict that WESCO International will post $3.87 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of WCC. Norges Bank purchased a new stake in shares of WESCO International during the fourth quarter valued at about $29,213,000. Bank of New York Mellon Corp raised its stake in shares of WESCO International by 62.8% in the first quarter. Bank of New York Mellon Corp now owns 414,981 shares of the technology company’s stock valued at $28,862,000 after buying an additional 160,123 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock valued at $17,791,000 after buying an additional 140,427 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of WESCO International during the first quarter valued at about $8,096,000. Finally, Pioneer Investment Management Inc. purchased a new stake in shares of WESCO International during the first quarter valued at about $7,655,000. Institutional investors own 95.96% of the company’s stock.
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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