WESCO International (WCC) Upgraded by ValuEngine to Buy
ValuEngine upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a research note published on Friday morning.
WCC has been the subject of a number of other reports. Wolfe Research cut WESCO International from an outperform rating to a market perform rating in a report on Friday, October 27th. Zacks Investment Research cut WESCO International from a buy rating to a hold rating in a report on Wednesday, November 1st. Wells Fargo & Company lifted their price target on WESCO International from $65.00 to $67.00 and gave the company an outperform rating in a report on Friday, October 6th. Robert W. Baird reaffirmed a hold rating and issued a $56.00 price target on shares of WESCO International in a report on Wednesday, October 4th. Finally, Morgan Stanley reiterated an overweight rating and issued a $70.00 price objective (up from $68.00) on shares of WESCO International in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. WESCO International currently has an average rating of Hold and an average price target of $68.38.
Shares of WESCO International (NYSE:WCC) traded down $0.20 during midday trading on Friday, hitting $65.35. The company’s stock had a trading volume of 220,075 shares, compared to its average volume of 236,733. The company has a market capitalization of $3,080.98, a PE ratio of 16.98, a PEG ratio of 1.70 and a beta of 1.95. WESCO International has a 12 month low of $48.95 and a 12 month high of $76.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.42 and a current ratio of 2.31.
WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts forecast that WESCO International will post 3.87 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of WESCO International by 32.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after buying an additional 866 shares during the period. Quantbot Technologies LP acquired a new position in shares of WESCO International during the 2nd quarter worth about $238,000. Janney Capital Management LLC grew its position in shares of WESCO International by 47.4% during the 3rd quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after buying an additional 1,672 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of WESCO International during the 3rd quarter worth about $502,000. Finally, Amalgamated Bank grew its position in shares of WESCO International by 26.3% during the 2nd quarter. Amalgamated Bank now owns 8,789 shares of the technology company’s stock worth $504,000 after buying an additional 1,831 shares during the period. Institutional investors own 98.81% 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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