WESCO International, Inc. (NYSE:WCC) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
A number of other equities analysts have also recently issued reports on WCC. Wells Fargo & Company increased their target price on WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Standpoint Research lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. UBS AG reissued a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of WESCO International in a report on Monday, July 31st. Finally, Northcoast Research assumed coverage on WESCO International in a report on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price objective for the company. 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 company. The stock has an average rating of “Hold” and an average price target of $68.38.
WESCO International (NYSE WCC) traded down $0.80 during mid-day trading on Tuesday, hitting $60.35. 365,000 shares of the stock were exchanged, compared to its average volume of 516,764. WESCO International has a 52-week low of $48.95 and a 52-week high of $76.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.42. The company has a market capitalization of $2,874.17, a PE ratio of 15.84, a P/E/G ratio of 1.58 and a beta of 1.95.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The business 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 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. sell-side analysts forecast that WESCO International will post 3.87 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Investec Asset Management LTD boosted its position in shares of 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 during the last quarter. Systematic Financial Management LP boosted 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 acquiring an additional 5,765 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of WESCO International during the 2nd quarter valued at about $1,683,000. Airain ltd bought a new stake in shares of WESCO International during the 2nd quarter valued at about $1,983,000. Finally, Investec Asset Management North America Inc. boosted 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 acquiring an additional 4,405 shares during the last quarter. Hedge funds and other institutional investors 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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