Wesco International Inc. (WCC) Shares Up 2.4%
Wesco International Inc. (NYSE:WCC) shares shot up 2.4% during trading on Wednesday . The stock traded as high as $62.07 and last traded at $61.73, with a volume of 324,857 shares. The stock had previously closed at $60.29.
Several research firms recently commented on WCC. Longbow Research raised shares of Wesco International from a “neutral” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Wesco International from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Credit Suisse Group AG initiated coverage on shares of Wesco International in a research report on Saturday, June 18th. They set a “buy” rating on the stock. TheStreet downgraded shares of Wesco International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Royal Bank Of Canada downgraded shares of 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 report on Wednesday, June 1st. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Wesco International presently has an average rating of “Hold” and a consensus target price of $56.91.
The company has a 50 day moving average price of $55.42 and a 200-day moving average price of $53.74. The company has a market capitalization of $2.59 billion and a P/E ratio of 14.97.
Wesco International (NYSE:WCC) last posted its earnings results on Thursday, July 28th. The company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.05. The company earned $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. On average, equities analysts anticipate that Wesco International Inc. will post $3.96 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Wesco International stock. Rhumbline Advisers increased its position in shares of Wesco International Inc. (NYSE:WCC) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,338 shares of the company’s stock after buying an additional 348 shares during the period. Rhumbline Advisers owned approximately 0.07% of Wesco International worth $1,369,000 as of its most recent SEC filing.
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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