Wesco International Inc. (WCC) Sees Unusually-High Trading Volume
Shares of Wesco International Inc. (NYSE:WCC) saw an uptick in trading volume on Friday . 3,285,170 shares changed hands during trading, an increase of 310% from the previous session’s volume of 800,577 shares.The stock last traded at $57.16 and had previously closed at $56.85.
Several brokerages recently issued reports on WCC. Zacks Investment Research upgraded Wesco International from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Credit Suisse Group AG began coverage on Wesco International in a research note on Saturday, June 18th. They issued a “buy” rating on the stock. TheStreet cut Wesco International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Royal Bank Of Canada cut Wesco International from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $53.00 to $50.00 in a research note on Wednesday, June 1st. Finally, Sterne Agee CRT reiterated a “neutral” rating on shares of Wesco International in a research note on Monday, May 16th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Wesco International presently has a consensus rating of “Hold” and an average price target of $56.91.
The stock has a 50-day moving average price of $54.10 and a 200-day moving average price of $52.40. The stock has a market cap of $2.77 billion and a PE ratio of 13.96.
Wesco International (NYSE:WCC) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts anticipate that Wesco International Inc. will post $3.96 EPS for the current year.
Other hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake 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 worth $5,429,000 after buying an additional 9,100 shares in the last quarter. KDI Capital Partners LLC purchased a new stake in Wesco International during the fourth quarter worth about $3,710,000. 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 worth $1,278,000 after buying an additional 22,612 shares in the last quarter. 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 worth $1,369,000 after buying an additional 348 shares in the last quarter. Finally, Pear Tree Advisors Inc. purchased a new stake in Wesco International during the fourth quarter worth 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.
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