Wesco International Inc. (WCC) Stock Price Down 3.6%
Wesco International Inc. (NYSE:WCC) fell 3.6% during trading on Friday . The stock traded as low as $55.57 and last traded at $55.74, with a volume of 1,149,381 shares changing hands. The stock had previously closed at $57.84.
Several research firms have commented on WCC. Morgan Stanley reaffirmed a “hold” rating and set a $58.00 price objective on shares of Wesco International in a report on Friday, April 29th. Zacks Investment Research upgraded Wesco International from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Credit Suisse Group AG reiterated an “outperform” rating and set a $68.00 price target on shares of Wesco International in a research report on Friday, June 17th. Susquehanna upped their price target on Wesco International from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 14th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Wesco International in a research report on Monday, May 16th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Wesco International currently has a consensus rating of “Hold” and a consensus price target of $56.91.
The firm has a market cap of $2.35 billion and a price-to-earnings ratio of 13.69. The company’s 50-day moving average price is $54.30 and its 200 day moving average price is $51.32.
Wesco International (NYSE:WCC) last announced its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.05. During the same period in the previous year, the business posted $1.00 earnings per share. The firm earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts predict that Wesco International Inc. will post $3.98 EPS for the current fiscal year.
A number of hedge funds and institutional investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Wesco International during the fourth quarter valued at about $1,104,000. Russell Frank Co boosted its position 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 last quarter. Rhumbline Advisers boosted its position 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 last quarter. Pear Tree Advisors Inc. purchased a new position in shares of Wesco International during the fourth quarter valued at about $1,498,000. Finally, California Public Employees Retirement System boosted its position in shares of 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 during the last quarter.
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.