Shares of Wesco International Inc. (NYSE:WCC) have received an average recommendation of “Hold” from the sixteen brokerages that are presently covering the firm. Eleven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $57.45.
Several brokerages recently commented on WCC. Longbow Research raised Wesco International from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, August 24th. Zacks Investment Research raised Wesco International from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Standpoint Research raised Wesco International from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, August 25th. Macquarie began coverage on Wesco International in a report on Thursday, August 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Citigroup Inc. lowered Wesco International to a “market perform” rating and set a $65.00 price objective for the company. in a report on Wednesday, September 7th. They noted that the move was a valuation call.
Wesco International (NYSE:WCC) traded up 0.95% during mid-day trading on Wednesday, hitting $58.65. The company’s stock had a trading volume of 256,088 shares. The stock has a market cap of $2.48 billion, a P/E ratio of 14.35 and a beta of 2.05. The company’s 50 day moving average is $60.07 and its 200-day moving average is $57.16. Wesco International has a 52-week low of $34.00 and a 52-week high of $63.90.
Wesco International (NYSE:WCC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.05. Wesco International had a return on equity of 10.73% and a net margin of 2.65%. The company earned $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. Wesco International’s revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Wesco International will post $3.96 EPS for the current fiscal year.
In related news, Director James Louis Singleton sold 2,638 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total value of $166,959.02. Following the sale, the director now directly owns 12,305 shares in the company, valued at $778,783.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in Wesco International during the second quarter worth approximately $23,302,000. SG Americas Securities LLC purchased a new stake in Wesco International during the second quarter worth approximately $17,595,000. Eagle Asset Management Inc. purchased a new stake in Wesco International during the third quarter worth approximately $15,898,000. TIAA CREF Investment Management LLC increased its stake in Wesco International by 43.0% in the second quarter. TIAA CREF Investment Management LLC now owns 799,748 shares of the company’s stock worth $41,179,000 after buying an additional 240,564 shares in the last quarter. Finally, James Investment Research Inc. purchased a new stake in Wesco International during the second quarter worth approximately $10,445,000.
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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