Wesco International Inc. (WCC) Sees Strong Trading Volume
Wesco International Inc. (NYSE:WCC) saw an uptick in 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 brokerages have recently weighed in on WCC. Zacks Investment Research upgraded Wesco International from a “sell” rating to a “hold” rating in a research note on Thursday. 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 downgraded Wesco International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Royal Bank Of Canada downgraded Wesco International from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $53.00 to $50.00 in a research note on Wednesday, June 1st. Finally, Sterne Agee CRT restated a “neutral” rating on shares of Wesco International in a research note on Monday, May 16th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.00.
The firm has a 50-day moving average of $55.76 and a 200-day moving average of $50.55. The stock has a market cap of $2.32 billion and a PE ratio of 13.50.
Wesco International (NYSE:WCC) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 million. During the same period last year, the business earned $0.90 EPS. Wesco International’s revenue was down 2.2% on a year-over-year basis. Equities analysts expect that Wesco International Inc. will post $3.98 EPS for the current year.
Other large investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Wesco International during the fourth quarter valued at $1,104,000. Russell Frank Co increased its stake in shares of 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 increased its stake in shares of 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. purchased a new stake in shares of Wesco International during the fourth quarter valued at $1,498,000. Finally, California State Teachers Retirement System increased its stake in shares of 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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