Standpoint Research upgraded shares of WESCO International, Inc. (NYSE:WCC) from a hold rating to a buy rating in a research report released on Thursday, Marketbeat reports. Standpoint Research currently has $63.00 price objective on the technology company’s stock.

Several other research firms have also commented on WCC. Zacks Investment Research raised shares of WESCO International from a sell rating to a buy rating and set a $64.00 price target for the company in a research report on Tuesday, July 4th. UBS AG reissued a neutral rating and issued a $55.00 target price (down from $67.00) on shares of WESCO International in a report on Monday, July 31st. Royal Bank Of Canada reissued a hold rating and issued a $72.00 target price on shares of WESCO International in a report on Friday, April 28th. TheStreet lowered shares of WESCO International from a b- rating to a c rating in a report on Wednesday, June 14th. Finally, Credit Suisse Group increased their target price on shares of WESCO International from $70.00 to $76.00 and gave the stock an outperform rating in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $68.19.

WESCO International (NYSE:WCC) traded up 0.58% during mid-day trading on Thursday, reaching $52.45. 19,824 shares of the company were exchanged. The stock has a 50-day moving average price of $56.30 and a 200 day moving average price of $64.37. WESCO International has a one year low of $49.05 and a one year high of $76.15. The company has a market capitalization of $2.56 billion, a PE ratio of 24.86 and a beta of 1.77.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. WESCO International had a net margin of 1.41% and a return on equity of 9.19%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts predict that WESCO International will post $3.75 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. raised its stake in WESCO International by 12.2% in the second quarter. Tocqueville Asset Management L.P. now owns 264,015 shares of the technology company’s stock worth $15,128,000 after buying an additional 28,700 shares during the last quarter. Bank of New York Mellon Corp raised its stake in WESCO International by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock worth $25,051,000 after buying an additional 22,204 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in WESCO International by 13.7% in the second quarter. Wedge Capital Management L L P NC now owns 17,563 shares of the technology company’s stock worth $1,006,000 after buying an additional 2,111 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in WESCO International by 4.7% in the second quarter. Canada Pension Plan Investment Board now owns 294,000 shares of the technology company’s stock worth $16,846,000 after buying an additional 13,300 shares during the last quarter. Finally, Selway Asset Management raised its stake in WESCO International by 1.2% in the second quarter. Selway Asset Management now owns 25,100 shares of the technology company’s stock worth $1,438,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

WESCO International Company Profile

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.

Analyst Recommendations for WESCO International (NYSE:WCC)

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