WESCO International (WCC) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a research report report published on Friday morning.
A number of other brokerages have also commented on WCC. Wells Fargo & Company upped their price target on WESCO International from $67.00 to $75.00 and gave the stock an outperform rating in a report on Friday, October 27th. Zacks Investment Research lowered WESCO International from a buy rating to a hold rating in a report on Wednesday, November 1st. Standpoint Research lowered WESCO International from a buy rating to a hold rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. Robert W. Baird reiterated a hold rating and set a $56.00 price target on shares of WESCO International in a report on Wednesday, October 4th. Finally, Wolfe Research lowered WESCO International from an outperform rating to a market perform rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $68.38.
WESCO International (NYSE WCC) traded up $1.05 on Friday, reaching $66.40. The company had a trading volume of 297,100 shares, compared to its average volume of 501,099. WESCO International has a 12-month low of $48.95 and a 12-month high of $76.15. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.65. The firm has a market cap of $3,071.58, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.69 and a beta of 1.95.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The company 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 company earned $1.05 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. research analysts expect that WESCO International will post 3.87 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position 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 during the period. Quantbot Technologies LP bought a new stake in shares of WESCO International during the second quarter worth $238,000. Janney Capital Management LLC grew its holdings in shares of WESCO International by 47.4% during the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after purchasing an additional 1,672 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of WESCO International during the third quarter worth $502,000. Finally, Amalgamated Bank lifted its stake in shares of WESCO International by 26.3% during the second quarter. Amalgamated Bank now owns 8,789 shares of the technology company’s stock valued at $504,000 after acquiring an additional 1,831 shares during the period. Institutional investors and hedge funds own 98.79% of the company’s stock.
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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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