WESCO International (NYSE: WCC – Get an Assessment) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note published on Monday.
Several other stock analysts have also recently commented on the stock. Zacks Investment Research upgraded WESCO International shares from a “hold” rating to a “strong-buy” rating and set a price target of $150.00 on the stock in a Tuesday, May 10 research note. . Loop Capital raised its price target on WESCO International shares from $160.00 to $170.00 and assigned the company a “buy” rating in a Wednesday, Feb. 16 research note. One equity research analyst assigned the stock a hold rating, four assigned a buy rating and two assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, WESCO International currently has a consensus rating of “Buy” and an average price target of $158.33.
Shares of NYSE:WCC traded at $4.76 on Monday, hitting $126.80. The company had a trading volume of 15,670 shares, compared to an average volume of 461,523. WESCO International has a 1-year low of $93.80 and a 1-year high of $144.43. The stock has a market capitalization of $6.43 billion, a price/earnings ratio of 12.48, a P/E/G ratio of 0.86 and a beta of 2.17. The stock has a 50-day moving average price of $125.77 and a 200-day moving average price of $126.07. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt ratio of 1.22.
WESCO International (NYSE:WCC – Get Rating) last released its quarterly results on Thursday, May 5. The technology company reported EPS of $3.63 for the quarter, beating the consensus estimate of $2.20 by $1.43. WESCO International achieved a net margin of 3.07% and a return on equity of 17.89%. The company posted revenue of $4.93 billion for the quarter, versus a consensus estimate of $4.62 billion. In the same period a year earlier, the company posted earnings per share of $1.43. WESCO International’s revenues increased by 22.0% compared to the same quarter last year. Sell-side analysts expect WESCO International to post earnings per share of 14.67 for the current fiscal year.
Separately, Director Easwaran Sundaram sold 7,344 shares in a trade on Thursday, March 3. The stock was sold at an average price of $120.01, for a total value of $881,353.44. The sale was disclosed in a legal filing with the SEC, accessible via this link. 2.60% of the shares are held by insiders of the company.
Major investors have recently changed their stake in the company. Credit Suisse AG increased its stake in WESCO International shares by 3.1% during the third quarter. Credit Suisse AG now owns 65,517 shares of the technology company worth $7,555,000 after buying 1,998 additional shares during the period. Martingale Asset Management LP bought a new stake in the shares of WESCO International during the 3rd quarter for a value of $1,246,000. Neuberger Berman Group LLC increased its stake in WESCO International shares by 24.6% during the third quarter. Neuberger Berman Group LLC now owns 50,905 shares of the technology company worth $5,769,000 after purchasing an additional 10,037 shares during the period. Leuthold Group LLC increased its stake in WESCO International by 0.3% in the third quarter. Leuthold Group LLC now owns 32,600 shares of the technology company worth $3,759,000 after acquiring 83 additional shares in the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in WESCO International in Q3 for a value of approximately $754,000. Institutional investors and hedge funds own 92.83% of the company’s shares.
About WESCO International (Get a rating)
WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical and Electronic Solutions (EES), Communications and Security Solutions (CSS) and Utility and Broadband Solutions (UBS).
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