Wesco International Inc. (WCC) Sees Unusually-High Trading Volume
Wesco International Inc. (NYSE:WCC) shares saw strong trading volume on Thursday . 1,765,920 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 1,490,856 shares.The stock last traded at $54.32 and had previously closed at $53.64.
A number of equities analysts recently commented on the company. Credit Suisse Group AG assumed coverage on Wesco International in a research note on Saturday, June 18th. They issued a “buy” rating on the stock. Zacks Investment Research raised Wesco International from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Wesco International in a research note on Friday, April 29th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Wesco International in a research note on Monday, May 16th. Finally, Sterne Agee CRT began coverage on Wesco International in a research note on Monday, March 21st. They issued a “neutral” rating and a $57.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.00.
The company has a market capitalization of $2.30 billion and a price-to-earnings ratio of 13.39. The stock has a 50 day moving average of $55.84 and a 200 day moving average of $50.47.
Wesco International (NYSE:WCC) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. Wesco International’s revenue was down 2.2% compared to the same quarter last year. Analysts forecast that Wesco International Inc. will post $4.00 EPS for the current fiscal year.
A number of institutional investors recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. bought a new position in Wesco International during the fourth quarter valued at about $1,104,000. Russell Frank Co boosted its stake in Wesco International by 364.2% in the fourth quarter. Russell Frank Co now owns 28,820 shares of the company’s stock valued at $1,278,000 after buying an additional 22,612 shares during the period. Rhumbline Advisers boosted its stake in Wesco International by 1.1% in the fourth quarter. Rhumbline Advisers now owns 31,338 shares of the company’s stock valued at $1,369,000 after buying an additional 348 shares during the period. Pear Tree Advisors Inc. acquired a new stake in Wesco International during the fourth quarter valued at $1,498,000. Finally, California State Teachers Retirement System boosted its stake in Wesco International by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 84,556 shares of the company’s stock valued at $3,693,000 after buying an additional 1,321 shares during the period.
WESCO International, Inc (WESCO International) 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 advanced supply chain management and logistics services.
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