WESCO International (NYSE:WCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “WESCO is currently benefiting from strength across all end markets and geographic regions, improved sales execution and positive pricing. The company 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. 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. Besides, mid-term prospects do not appear to be improving in the construction market which is a headwind.  Year to date, the stock has outperformed the industry it belongs to.”

Several other equities research analysts have also recently commented on WCC. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $68.00) on shares of WESCO International in a research note on Monday, October 2nd. Robert W. Baird reissued a “hold” rating and issued a $56.00 target price on shares of WESCO International in a research note on Wednesday, October 4th. Wells Fargo & Company lifted their target price on WESCO International from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 6th. KeyCorp reissued a “buy” rating and issued a $64.00 target price on shares of WESCO International in a research note on Thursday, October 12th. Finally, Standpoint Research cut WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $68.38.

WESCO International (NYSE:WCC) traded down $0.40 during midday trading on Tuesday, hitting $64.10. The stock had a trading volume of 354,300 shares, compared to its average volume of 496,082. The firm has a market cap of $3,031.63, a PE ratio of 16.71, a P/E/G ratio of 1.67 and a beta of 1.95. WESCO International has a one year low of $48.95 and a one year high of $76.15. 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 (NYSE:WCC) last released its earnings results on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.09. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. equities research analysts forecast that WESCO International will post 3.87 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System boosted its position in shares of WESCO International by 8.8% in the 3rd quarter. California Public Employees Retirement System now owns 125,363 shares of the technology company’s stock worth $7,302,000 after purchasing an additional 10,163 shares during the last quarter. Janney Capital Management LLC boosted its position in shares of WESCO International by 47.4% in the 3rd 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. New York State Common Retirement Fund boosted its position in shares of WESCO International by 1.2% in the 3rd quarter. New York State Common Retirement Fund now owns 211,054 shares of the technology company’s stock worth $12,294,000 after purchasing an additional 2,600 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of WESCO International by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 399,583 shares of the technology company’s stock worth $23,276,000 after purchasing an additional 8,560 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its position in shares of WESCO International by 18.4% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 312,715 shares of the technology company’s stock worth $18,216,000 after purchasing an additional 48,700 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.

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About WESCO International

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.

Analyst Recommendations for WESCO International (NYSE:WCC)

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