WESCO International (NYSE:WCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “WESCO is currently benefiting from strength across all end markets and geographic regions, improved sales execution and positive pricing. The company 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. 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. Besides, mid-term prospects do not appear to be improving in the construction market which is a headwind.  Year to date, the stock has outperformed the industry it belongs to.”

WCC has been the subject of several other research reports. UBS raised their price target on WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and set a $64.00 price target on shares of WESCO International in a report on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 price target on shares of WESCO International in a report on Friday, October 27th. Credit Suisse Group set a $70.00 price target on WESCO International and gave the company an “outperform” rating in a report on Tuesday, October 31st. Finally, Wolfe Research downgraded WESCO International from an “outperform” rating to a “market perform” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. WESCO International currently has an average rating of “Hold” and an average target price of $68.38.

WESCO International (NYSE WCC) traded down $0.40 during midday trading on Tuesday, hitting $64.10. The stock had a trading volume of 354,300 shares, compared to its average volume of 496,082. The firm has a market cap of $3,031.63, a P/E ratio of 16.71, a PEG ratio of 1.67 and a beta of 1.95. 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 has a 12 month low of $48.95 and a 12 month high of $76.15.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, beating 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 return on equity of 9.11% and a net margin of 2.52%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. equities analysts predict that WESCO International will post 3.87 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in shares of WESCO International by 3.4% in the second quarter. Neuberger Berman Group LLC now owns 9,878 shares of the technology company’s stock worth $566,000 after purchasing an additional 326 shares during the period. TIAA CREF Investment Management LLC grew its position in WESCO International by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 81,095 shares of the technology company’s stock valued at $4,647,000 after acquiring an additional 659 shares during the last quarter. Stanley Laman Group Ltd. grew its position in WESCO International by 1.4% in the second quarter. Stanley Laman Group Ltd. now owns 51,611 shares of the technology company’s stock valued at $2,957,000 after acquiring an additional 691 shares during the last quarter. D.A. Davidson & CO. grew its position in WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after acquiring an additional 866 shares during the last quarter. Finally, Janney Capital Management LLC grew its position in WESCO International by 47.4% in the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock valued at $302,000 after acquiring an additional 1,672 shares during the last quarter. Institutional investors own 98.79% of the company’s stock.

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About WESCO International

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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