WESCO International, Inc. (WCC) Upgraded by Zacks Investment Research to Buy
WESCO International, Inc. (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $69.00 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.74% from the company’s previous close.
According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Year to date, the stock has outperformed the industry it belongs to. The company’s third-quarter 2017 beat the Zacks Consensus Estimate on both counts. WESCO continues with its focus on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It 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. WESCO 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 analysts also recently commented on the stock. ValuEngine downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $70.00 price objective on shares of WESCO International and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. UBS AG raised their price objective on shares of WESCO International from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Wells Fargo & Company raised their price objective on shares of WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Wolfe Research downgraded shares of WESCO International from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.38.
Shares of WESCO International (NYSE:WCC) traded down $0.25 during mid-day trading on Tuesday, hitting $61.75. 199,600 shares of the stock traded hands, compared to its average volume of 518,027. The firm has a market cap of $2,928.23, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.61 and a beta of 1.95. WESCO International has a one year low of $48.95 and a one year high of $76.15. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.65.
WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. equities analysts expect that WESCO International will post 3.87 EPS for the current year.
Large investors have recently modified their holdings of the business. Investec Asset Management LTD lifted its stake in WESCO International by 24.5% during 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 acquiring an additional 217,004 shares in the last quarter. Systematic Financial Management LP increased its position in shares of WESCO International by 22.7% during the 2nd quarter. Systematic Financial Management LP now owns 31,130 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 5,765 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of WESCO International during the 2nd quarter valued at $1,683,000. Airain ltd purchased a new stake in shares of WESCO International during the 2nd quarter valued at $1,983,000. Finally, Investec Asset Management North America Inc. increased its position in shares of WESCO International by 28.4% during the 2nd quarter. Investec Asset Management North America Inc. now owns 19,938 shares of the technology company’s stock valued at $1,142,000 after purchasing an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 96.97% 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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