WESCO International, Inc. (WCC) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of WESCO International, Inc. (NYSE:WCC) from a sell rating to a hold rating in a report issued on Friday morning.
According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Over the last one year, the stock has underperformed the industry it belongs to. The company’s second-quarter 2017 beat the Zacks Consensus Estimate while revenues missed the same by a slight margin. WESCO continues with its focus on supply chain process enhancements and cost reduction and supplier consolidations that are helping customers. The company has a comprehensive portfolio of products and services, and a sizable global footprint, which will help drive growth, going forward. However, foreign exchange risk, supplier concentration, a significant debt load and limited liquidity remain concerns.”
A number of other analysts have also issued reports on WCC. UBS AG reissued a neutral rating and issued a $67.00 target price (down previously from $69.00) on shares of WESCO International in a research report on Tuesday, May 2nd. Standpoint Research raised WESCO International from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a hold rating on shares of WESCO International in a research report on Wednesday, July 12th. Northcoast Research assumed coverage on WESCO International in a research report on Tuesday, July 25th. They issued a buy rating and a $70.00 target price on the stock. Finally, Credit Suisse Group set a $70.00 target price on WESCO International and gave the company a buy rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $68.19.
WESCO International (NYSE WCC) opened at 52.25 on Friday. The stock has a market capitalization of $2.55 billion, a P/E ratio of 24.76 and a beta of 1.77. The firm’s 50-day moving average price is $56.30 and its 200 day moving average price is $64.37. WESCO International has a 12-month low of $49.05 and a 12-month high of $76.15.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. WESCO International had a return on equity of 9.19% and a net margin of 1.41%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts anticipate that WESCO International will post $3.75 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in WCC. DUPONT CAPITAL MANAGEMENT Corp bought a new position in WESCO International during the first quarter valued at about $146,000. Janney Capital Management LLC bought a new position in WESCO International during the second quarter valued at about $202,000. Comerica Bank bought a new position in WESCO International during the fourth quarter valued at about $210,000. Trust Co. of Vermont bought a new position in WESCO International during the second quarter valued at about $229,000. Finally, OppenheimerFunds Inc. increased its position in WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after buying an additional 626 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
About WESCO International
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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