Wesco International Inc. (WCC) Trading Down 3.6%
Shares of Wesco International Inc. (NYSE:WCC) fell 3.6% during mid-day trading on Friday . The company traded as low as $55.57 and last traded at $55.74, with a volume of 1,149,381 shares traded. The stock had previously closed at $57.84.
A number of brokerages have recently issued reports on WCC. Morgan Stanley reissued a “hold” rating and issued a $58.00 price objective on shares of Wesco International in a research note on Friday, April 29th. Zacks Investment Research raised shares of Wesco International from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reissued an “outperform” rating and issued a $68.00 price objective on shares of Wesco International in a research note on Friday, June 17th. Susquehanna increased their price objective on shares of Wesco International from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 14th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Wesco International in a research note on Monday, May 16th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.91.
The company’s 50-day moving average is $54.30 and its 200-day moving average is $51.32. The firm has a market capitalization of $2.71 billion and a price-to-earnings ratio of 13.64.
Wesco International (NYSE:WCC) last posted its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.05. The firm earned $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts forecast that Wesco International Inc. will post $3.66 EPS for the current fiscal year.
Other institutional investors have recently bought and sold shares of the company. Eagle Asset Management purchased a new position in Wesco International during the third quarter valued at about $26,438,000. California Public Employees Retirement System boosted its position in Wesco International by 7.9% in the fourth quarter. California Public Employees Retirement System now owns 124,300 shares of the company’s stock valued at $5,429,000 after buying an additional 9,100 shares in the last quarter. Russell Frank Co boosted its position 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 in the last quarter. Rhumbline Advisers boosted its position 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 in the last quarter. Finally, Pear Tree Advisors Inc. purchased a new position in Wesco International during the fourth quarter valued at about $1,498,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.