Shares of WESCO International, Inc. (NYSE:WCC) have been assigned a consensus recommendation of “Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $69.90.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, May 30th. Credit Suisse Group reiterated a “buy” rating and set a $83.00 price objective on shares of WESCO International in a report on Thursday, March 16th. Morgan Stanley upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $79.00 to $74.00 in a report on Tuesday, May 2nd. TheStreet upgraded shares of WESCO International from a “c” rating to a “b-” rating in a report on Tuesday, March 7th. Finally, Raymond James Financial, Inc. upgraded shares of WESCO International from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Wednesday, April 19th.
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A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of WESCO International during the fourth quarter worth about $34,814,000. Norges Bank purchased a new stake in shares of WESCO International during the fourth quarter worth about $29,213,000. Bank of New York Mellon Corp raised its stake in shares of WESCO International by 62.8% in the first quarter. Bank of New York Mellon Corp now owns 414,981 shares of the technology company’s stock worth $28,862,000 after buying an additional 160,123 shares during the period. Teachers Advisors LLC raised its stake in shares of WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock worth $17,791,000 after buying an additional 140,427 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of WESCO International during the first quarter worth about $8,096,000. 98.58% of the stock is currently owned by institutional investors and hedge funds.
WESCO International (WCC) traded down 1.21% on Monday, hitting $57.30. The stock had a trading volume of 763,003 shares. WESCO International has a 1-year low of $49.67 and a 1-year high of $76.15. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 27.25 and a beta of 1.73. The company’s 50 day moving average is $61.21 and its 200-day moving average is $67.37.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, April 27th. The technology company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. WESCO International had a net margin of 1.41% and a return on equity of 9.30%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, analysts forecast that WESCO International will post $3.85 EPS for the current year.
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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