Brokerages Set WESCO International, Inc. (NYSE:WCC) PT at $64.17

WESCO International, Inc. (NYSE:WCC) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $64.00.

Several equities analysts recently issued reports on WCC shares. Zacks Investment Research downgraded shares of WESCO International from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. William Blair downgraded shares of WESCO International from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. Northcoast Research downgraded shares of WESCO International from a “buy” rating to a “neutral” rating in a report on Friday. Royal Bank of Canada cut their price target on shares of WESCO International to $54.00 and set a “sector perform” rating for the company in a report on Friday. Finally, ValuEngine downgraded shares of WESCO International from a “sell” rating to a “strong sell” rating in a report on Friday, July 12th.

In other WESCO International news, Director John K. Morgan sold 3,077 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total value of $157,819.33. Following the completion of the transaction, the director now directly owns 25,984 shares of the company’s stock, valued at $1,332,719.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lynn M. Utter sold 1,513 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $48.97, for a total transaction of $74,091.61. Following the completion of the transaction, the director now directly owns 11,151 shares of the company’s stock, valued at $546,064.47. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of WESCO International in the fourth quarter worth about $37,803,000. New York State Common Retirement Fund raised its stake in shares of WESCO International by 16.6% in the first quarter. New York State Common Retirement Fund now owns 208,584 shares of the technology company’s stock worth $11,057,000 after acquiring an additional 29,766 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of WESCO International by 12.4% in the first quarter. Parametric Portfolio Associates LLC now owns 190,375 shares of the technology company’s stock worth $10,092,000 after acquiring an additional 20,960 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of WESCO International in the second quarter worth about $1,213,000. Finally, Foundry Partners LLC raised its stake in shares of WESCO International by 1,442.7% in the second quarter. Foundry Partners LLC now owns 138,847 shares of the technology company’s stock worth $7,033,000 after acquiring an additional 129,847 shares during the last quarter. 98.69% of the stock is owned by institutional investors.

Shares of WESCO International stock opened at $45.01 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.18. The company’s 50-day simple moving average is $49.60. WESCO International has a twelve month low of $43.77 and a twelve month high of $63.20. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.94 and a beta of 1.73.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the business earned $1.22 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that WESCO International will post 5.39 earnings per share for the current year.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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Analyst Recommendations for WESCO International (NYSE:WCC)

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