WESCO International’s (WCC) “Hold” Rating Reiterated at Royal Bank of Canada

WESCO International (NYSE:WCC)‘s stock had its “hold” rating reiterated by analysts at Royal Bank of Canada in a report issued on Friday, November 2nd. They currently have a $61.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.10% from the stock’s current price.

Several other research firms have also commented on WCC. UBS Group raised their price objective on shares of WESCO International from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. ValuEngine lowered shares of WESCO International from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.25.

WCC stock traded down $0.88 during mid-day trading on Friday, hitting $53.46. 627,085 shares of the company were exchanged, compared to its average volume of 695,800. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 1.47. The firm has a market cap of $2.63 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.16 and a beta of 1.84. WESCO International has a 12-month low of $47.44 and a 12-month high of $69.35.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, November 1st. The technology company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.05. WESCO International had a net margin of 2.35% and a return on equity of 10.09%. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm posted $1.12 earnings per share. WESCO International’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that WESCO International will post 4.8 EPS for the current fiscal year.

In other news, SVP Christine Ann Wolf purchased 1,690 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $59.20 per share, for a total transaction of $100,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised its holdings in WESCO International by 45.3% during the first quarter. Guggenheim Capital LLC now owns 9,793 shares of the technology company’s stock worth $607,000 after purchasing an additional 3,055 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in WESCO International by 73.4% during the first quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the technology company’s stock worth $454,000 after purchasing an additional 3,100 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in WESCO International by 2,973.8% during the second quarter. BNP Paribas Arbitrage SA now owns 45,646 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 44,161 shares in the last quarter. Aperio Group LLC raised its holdings in WESCO International by 3.6% during the second quarter. Aperio Group LLC now owns 39,591 shares of the technology company’s stock worth $2,261,000 after purchasing an additional 1,383 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in WESCO International by 12.8% during the second quarter. Wedge Capital Management L L P NC now owns 15,966 shares of the technology company’s stock worth $912,000 after purchasing an additional 1,815 shares in the last quarter. Institutional investors own 98.54% of the company’s stock.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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