Analysts Set WESCO International, Inc. (NYSE:WCC) Target Price at $64.50

Shares of WESCO International, Inc. (NYSE:WCC) have been given a consensus rating of “Hold” by the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $64.50.

WCC has been the topic of a number of analyst reports. Wells Fargo & Co boosted their target price on shares of WESCO International from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, March 18th. TheStreet cut shares of WESCO International from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Northcoast Research reissued a “buy” rating on shares of WESCO International in a report on Friday, May 3rd. Zacks Investment Research cut shares of WESCO International from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Finally, William Blair cut shares of WESCO International from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th.

In other news, Director Lynn M. Utter sold 1,513 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $48.97, for a total transaction of $74,091.61. Following the completion of the transaction, the director now directly owns 11,151 shares in the company, valued at approximately $546,064.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John K. Morgan sold 3,077 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total transaction of $157,819.33. Following the transaction, the director now owns 25,984 shares of the company’s stock, valued at $1,332,719.36. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCC. TIAA CREF Investment Management LLC grew its position in shares of WESCO International by 0.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 696,223 shares of the technology company’s stock valued at $42,783,000 after purchasing an additional 3,449 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in WESCO International by 72.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 12,623 shares of the technology company’s stock worth $606,000 after acquiring an additional 5,300 shares in the last quarter. Rhumbline Advisers grew its position in WESCO International by 3.4% in the fourth quarter. Rhumbline Advisers now owns 43,164 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 1,432 shares in the last quarter. Dean Investment Associates LLC grew its position in WESCO International by 81.8% in the fourth quarter. Dean Investment Associates LLC now owns 111,845 shares of the technology company’s stock worth $5,369,000 after acquiring an additional 50,340 shares in the last quarter. Finally, Sun Life Financial INC grew its position in WESCO International by 6.6% in the fourth quarter. Sun Life Financial INC now owns 8,827 shares of the technology company’s stock worth $424,000 after acquiring an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.

WCC stock traded down $1.29 during midday trading on Tuesday, reaching $47.93. 519,978 shares of the company’s stock traded hands, compared to its average volume of 541,588. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.18 and a quick ratio of 1.31. WESCO International has a 52 week low of $43.94 and a 52 week high of $63.20. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.89 and a beta of 1.76.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm earned $0.93 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that WESCO International will post 5.39 EPS for the current year.

WESCO International Company Profile

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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Analyst Recommendations for WESCO International (NYSE:WCC)

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