Wesco International Inc. (WCC) Sees Large Volume Increase
Wesco International Inc. (NYSE:WCC) saw an uptick in trading volume on Friday . 3,285,170 shares traded 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.
WCC has been the topic of several research analyst reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Wesco International in a research note on Monday, May 2nd. Morgan Stanley reiterated a “hold” rating and set a $58.00 price target on shares of Wesco International in a research note on Friday, April 29th. TheStreet upgraded shares of Wesco International from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Royal Bank Of Canada lowered shares of Wesco International from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $53.00 to $50.00 in a research note on Wednesday, June 1st. Finally, Standpoint Research lowered shares of Wesco International from a “buy” rating to a “hold” rating in a research note on Friday, April 22nd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Wesco International presently has an average rating of “Hold” and a consensus target price of $56.91.
The stock has a market cap of $2.41 billion and a price-to-earnings ratio of 13.96. The stock has a 50-day moving average price of $54.07 and a 200 day moving average price of $52.54.
Wesco International (NYSE:WCC) last announced its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.05. The firm earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Wesco International’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. Equities research analysts predict that Wesco International Inc. will post $3.96 EPS for the current year.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Pear Tree Advisors Inc. bought a new position in Wesco International during the fourth quarter worth approximately $1,498,000. Cornerstone Capital Management Holdings LLC. bought a new position in Wesco International during the fourth quarter worth approximately $1,104,000. California Public Employees Retirement System increased 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 worth $5,429,000 after buying an additional 9,100 shares during the period. Finally, Rhumbline Advisers increased its position 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 during the period.
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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