Shares of WESCO International, Inc. (NYSE:WCC) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $68.86.
Several equities analysts recently commented on the company. Royal Bank of Canada reissued a “hold” rating and issued a $66.00 target price on shares of WESCO International in a report on Friday, August 3rd. ValuEngine raised WESCO International from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Saturday, June 30th. KeyCorp reaffirmed an “equal weight” rating on shares of WESCO International in a report on Friday, June 29th. Finally, Wolfe Research began coverage on WESCO International in a report on Wednesday, June 27th. They set a “market perform” rating on the stock.
In other WESCO International news, Director Lynn M. Utter sold 1,327 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $61.71, for a total transaction of $81,889.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christine Ann Wolf acquired 1,690 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were purchased at an average cost of $59.20 per share, for a total transaction of $100,048.00. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of WESCO International by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,916,184 shares of the technology company’s stock worth $242,999,000 after buying an additional 35,429 shares during the last quarter. Blue Harbour Group L.P. grew its holdings in shares of WESCO International by 1,096.5% during the first quarter. Blue Harbour Group L.P. now owns 1,484,645 shares of the technology company’s stock worth $92,122,000 after buying an additional 1,360,560 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of WESCO International by 6.6% during the second quarter. Investec Asset Management LTD now owns 1,097,115 shares of the technology company’s stock worth $62,645,000 after buying an additional 68,275 shares during the last quarter. Polaris Capital Management LLC grew its holdings in shares of WESCO International by 42.8% during the first quarter. Polaris Capital Management LLC now owns 995,311 shares of the technology company’s stock worth $61,759,000 after buying an additional 298,300 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of WESCO International by 102.1% during the first quarter. Prudential Financial Inc. now owns 672,557 shares of the technology company’s stock worth $41,732,000 after buying an additional 339,778 shares during the last quarter. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WCC traded down $0.40 during trading hours on Wednesday, hitting $59.70. The company’s stock had a trading volume of 342,776 shares, compared to its average volume of 449,658. The firm has a market capitalization of $2.78 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.39 and a quick ratio of 1.47. WESCO International has a 52-week low of $48.95 and a 52-week high of $69.35.
WESCO International (NYSE:WCC) last posted its earnings results on Thursday, August 2nd. The technology company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.01). The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. equities analysts anticipate that WESCO International will post 4.77 EPS for the current year.
About WESCO International
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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