WESCO International (NYSE:WCC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of WESCO International (NYSE:WCC – Get Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other research firms have also weighed in on WCC. Loop Capital boosted their price objective on shares of WESCO International from $160.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, February 16th. Zacks Investment Research upgraded shares of WESCO International from a hold rating to a strong-buy rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 10th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $158.33.

WCC opened at $120.68 on Tuesday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.82 and a beta of 2.17. WESCO International has a 12 month low of $93.80 and a 12 month high of $144.43. The firm’s fifty day simple moving average is $127.07 and its 200 day simple moving average is $126.93. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 1.22.

WESCO International (NYSE:WCC – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The technology company reported $3.63 EPS for the quarter, beating the consensus estimate of $2.20 by $1.43. WESCO International had a net margin of 3.07% and a return on equity of 17.89%. The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the firm posted $1.43 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts predict that WESCO International will post 14.8 EPS for the current fiscal year.

In other WESCO International news, Director Easwaran Sundaram sold 7,344 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $120.01, for a total value of $881,353.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Ellevest Inc. raised its stake in WESCO International by 57.1% during the fourth quarter. Ellevest Inc. now owns 377 shares of the technology company’s stock worth $50,000 after buying an additional 137 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in WESCO International by 2,928.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,272 shares of the technology company’s stock valued at $147,000 after purchasing an additional 1,230 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of WESCO International during the fourth quarter valued at about $171,000. James Investment Research Inc. acquired a new position in shares of WESCO International during the fourth quarter valued at about $197,000. Finally, Capital Wealth Alliance LLC purchased a new position in WESCO International in the fourth quarter valued at about $207,000. 92.83% of the stock is owned by institutional investors and hedge funds.

About WESCO International (Get Rating)

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).

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