WESCO International, Inc. (WCC) Rating Increased to Buy at Standpoint Research
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.
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