ValuEngine upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a report issued on Wednesday.
Other analysts have also recently issued reports about the stock. UBS Group assumed coverage on shares of WESCO International in a research note on Tuesday, January 23rd. They issued a neutral rating and a $70.00 target price on the stock. Zacks Investment Research cut shares of WESCO International from a buy rating to a hold rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. WESCO International presently has a consensus rating of Hold and a consensus target price of $68.69.
Shares of WESCO International (WCC) opened at $64.20 on Wednesday. The company has a market cap of $3,040.00, a P/E ratio of 10.11, a P/E/G ratio of 1.32 and a beta of 1.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.40 and a current ratio of 2.31. WESCO International has a 52 week low of $48.95 and a 52 week high of $70.95.
WESCO International announced that its board has initiated a stock buyback program on Wednesday, December 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director James Louis Singleton sold 3,288 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.25, for a total transaction of $211,254.00. Following the sale, the director now owns 19,477 shares in the company, valued at approximately $1,251,397.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lynn M. Utter sold 768 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $65.56, for a total transaction of $50,350.08. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its position in shares of WESCO International by 1.2% during the 3rd quarter. New York State Common Retirement Fund now owns 211,054 shares of the technology company’s stock valued at $12,294,000 after buying an additional 2,600 shares in the last quarter. James Investment Research Inc. raised its position in shares of WESCO International by 217.4% during the 4th quarter. James Investment Research Inc. now owns 39,800 shares of the technology company’s stock valued at $2,712,000 after buying an additional 27,260 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of WESCO International during the 4th quarter valued at $218,000. California Public Employees Retirement System raised its position in shares of WESCO International by 8.8% during the 3rd quarter. California Public Employees Retirement System now owns 125,363 shares of the technology company’s stock valued at $7,302,000 after buying an additional 10,163 shares in the last quarter. Finally, Polaris Capital Management LLC raised its position in shares of WESCO International by 169.8% during the 4th quarter. Polaris Capital Management LLC now owns 1,793,516 shares of the technology company’s stock valued at $34,095,000 after buying an additional 1,128,805 shares in the last quarter. Hedge funds and other institutional investors own 98.95% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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