WESCO International, Inc. (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $70.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.18% from the stock’s current price.

According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Year to date, the stock has underperformed the industry it belongs to. The company’s third-quarter 2017 beat the Zacks Consensus Estimate on both counts. WESCO continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions by integrating its portfolio of products and services and its supplier relationships. The company has a comprehensive portfolio of products and services, and a sizable global footprint, which will help drive growth, going forward. However, foreign exchange risk, supplier concentration, a significant debt load and limited liquidity remain concerns.”

Several other equities analysts have also recently commented on WCC. Credit Suisse Group set a $70.00 target price on shares of WESCO International and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of WESCO International from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday. UBS AG upped their target price on shares of WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird reiterated a “hold” rating and set a $56.00 target price on shares of WESCO International in a research note on Wednesday, October 4th. Finally, Wolfe Research cut shares of WESCO International from an “outperform” rating to a “market perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.29.

WESCO International (WCC) traded up 0.64% during midday trading on Tuesday, reaching $62.80. 207,650 shares of the company were exchanged. The firm’s 50-day moving average is $58.25 and its 200-day moving average is $57.51. The firm has a market cap of $3.01 billion, a P/E ratio of 29.78 and a beta of 1.80. WESCO International has a one year low of $48.95 and a one year high of $76.15.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.17%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company earned $1.05 earnings per share. WESCO International’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that WESCO International will post $3.77 EPS for the current fiscal year.

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In other WESCO International news, CFO David S. Schulz purchased 4,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $51.57 per share, with a total value of $206,280.00. Following the acquisition, the chief financial officer now directly owns 9,000 shares of the company’s stock, valued at approximately $464,130. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Wasatch Advisors Inc. increased its holdings in WESCO International by 20.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock valued at $142,710,000 after buying an additional 420,292 shares during the period. Investec Asset Management LTD increased its holdings in WESCO International by 24.5% in the 2nd quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after buying an additional 217,004 shares during the period. Polaris Capital Management LLC increased its holdings in WESCO International by 1.5% in the 2nd quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock valued at $32,381,000 after buying an additional 8,500 shares during the period. Bank of New York Mellon Corp increased its holdings in WESCO International by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock valued at $25,051,000 after buying an additional 22,204 shares during the period. Finally, Geode Capital Management LLC increased its holdings in WESCO International by 15.1% in the 1st quarter. Geode Capital Management LLC now owns 347,305 shares of the technology company’s stock valued at $24,155,000 after buying an additional 45,629 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for WESCO International (NYSE:WCC)

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