Today: Today, Wesco International Inc. (WCC) Stock Rating Upgrade by Stephens

Today, Wesco International Inc. (WCC) Stock Rating Upgrade by Stephens

Stephens upgraded shares of Wesco International Inc. (NYSE:WCC) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning.

WCC has been the subject of several other reports. Zacks Investment Research raised shares of Wesco International from a hold rating to a buy rating and set a $69.00 price objective for the company in a research note on Monday, October 3rd. Longbow Research raised shares of Wesco International from a neutral rating to a buy rating and set a $72.00 price objective for the company in a research note on Wednesday, August 24th. Standpoint Research raised shares of Wesco International from a hold rating to a buy rating and set a $68.00 price objective for the company in a research note on Thursday, August 25th. Macquarie started coverage on shares of Wesco International in a research note on Thursday, August 25th. They set a neutral rating and a $64.00 price objective for the company. Finally, Citigroup Inc. lowered shares of Wesco International to a market perform rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Wesco International has a consensus rating of Hold and an average price target of $60.13.

Shares of Wesco International (NYSE:WCC) opened at 66.30 on Monday. The stock has a 50 day moving average of $59.57 and a 200-day moving average of $57.74. Wesco International has a 52-week low of $34.00 and a 52-week high of $66.35. The stock has a market capitalization of $3.22 billion, a P/E ratio of 30.94 and a beta of 1.65.

Wesco International (NYSE:WCC) last posted its earnings results on Thursday, October 27th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by $0.06. Wesco International had a net margin of 1.39% and a return on equity of 9.75%. The business earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts predict that Wesco International will post $3.79 EPS for the current fiscal year.

In other news, SVP Diane Lazzaris sold 5,028 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $64.65, for a total transaction of $325,060.20. Following the sale, the senior vice president now owns 23,542 shares in the company, valued at $1,521,990.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Louis Singleton sold 2,638 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total value of $166,959.02. Following the sale, the director now owns 12,305 shares in the company, valued at approximately $778,783.45. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. DIAM Co. Ltd. acquired a new stake in shares of Wesco International during the second quarter worth $763,000. Emerald Acquisition Ltd. acquired a new stake in shares of Wesco International during the second quarter worth $23,302,000. SG Americas Securities LLC acquired a new stake in shares of Wesco International during the second quarter worth $17,595,000. Oregon Public Employees Retirement Fund raised its stake in shares of Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock worth $330,000 after buying an additional 500 shares during the last quarter. Finally, Selway Asset Management raised its stake in shares of Wesco International by 0.8% in the second quarter. Selway Asset Management now owns 24,600 shares of the company’s stock worth $1,267,000 after buying an additional 200 shares during the last quarter.

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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