Wesco International Inc. (WCC) Trading 2.4% Higher
Wesco International Inc. (NYSE:WCC) shares traded up 2.4% during trading on Wednesday . The company traded as high as $62.07 and last traded at $61.73, with a volume of 324,857 shares trading hands. The stock had previously closed at $60.29.
A number of research analysts recently commented on the stock. Macquarie assumed coverage on shares of Wesco International in a research note on Thursday. They set a “neutral” rating on the stock. Standpoint Research upgraded shares of Wesco International from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Thursday. Longbow Research upgraded shares of Wesco International from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday. Zacks Investment Research upgraded shares of Wesco International from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Finally, Credit Suisse Group AG began coverage on shares of Wesco International in a research report on Saturday, June 18th. They issued a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $58.17.
The stock’s 50 day moving average price is $56.01 and its 200 day moving average price is $53.85. The company has a market capitalization of $2.61 billion and a P/E ratio of 15.08.
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 Zacks’ consensus estimate of $0.97 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. Wesco International’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, equities research analysts expect that Wesco International Inc. will post $3.97 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Wesco International stock. Cornerstone Capital Management Holdings LLC. bought a new position in Wesco International Inc. (NYSE:WCC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,267 shares of the company’s stock, valued at approximately $1,104,000. Cornerstone Capital Management Holdings LLC. owned 0.05% of Wesco International at the end of the most recent 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.
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