WESCO International, Inc. (WCC) Upgraded by Zacks Investment Research to “Buy”
WESCO International, Inc. (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $69.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.29% from the stock’s previous close.
According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Year to date, the stock has outperformed the industry it belongs to. The company’s third-quarter 2017 beat the Zacks Consensus Estimate on both counts. WESCO continues with its focus on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions by integrating its portfolio of products and services and its supplier relationships. WESCO has a comprehensive portfolio of products and services, and a sizable global footprint, which will help drive growth, going forward. However, foreign exchange risk, supplier concentration, a significant debt load and limited liquidity remain concerns.”
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday. Standpoint Research lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. UBS AG reiterated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of WESCO International in a research report on Monday, July 31st. BidaskClub downgraded shares of WESCO International from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $70.00 price target on shares of WESCO International and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $68.38.
WESCO International (NYSE WCC) traded down $0.30 during mid-day trading on Tuesday, hitting $62.00. 254,300 shares of the stock were exchanged, compared to its average volume of 518,027. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.42. WESCO International has a one year low of $48.95 and a one year high of $76.15. The company has a market capitalization of $2,928.23, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.61 and a beta of 1.95.
WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $1.05 earnings per share. WESCO International’s revenue for the quarter was up 7.8% on a year-over-year basis. analysts anticipate that WESCO International will post 3.87 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of WCC. Janney Capital Management LLC bought a new stake in WESCO International in the second quarter valued at $202,000. D.A. Davidson & CO. boosted its holdings in WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after acquiring an additional 866 shares in the last quarter. Quantbot Technologies LP bought a new stake in WESCO International in the second quarter valued at $238,000. OppenheimerFunds Inc. boosted its holdings in WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after acquiring an additional 626 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in WESCO International in the third quarter valued at $502,000. 96.97% of the stock is currently owned by institutional investors.
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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