WESCO International (NYSE:WCC) Stock Rating Lowered by Buckingham Research

Buckingham Research downgraded shares of WESCO International (NYSE:WCC) from a buy rating to a neutral rating in a research note published on Friday morning, BenzingaRatingsTable reports.

Several other research firms have also weighed in on WCC. Northcoast Research lowered WESCO International from a buy rating to a neutral rating in a research note on Friday. Royal Bank of Canada reduced their price objective on WESCO International to $54.00 and set a sector perform rating on the stock in a research note on Friday. TheStreet lowered WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. Zacks Investment Research lowered WESCO International from a hold rating to a sell rating in a research note on Tuesday, April 30th. Finally, ValuEngine lowered WESCO International from a sell rating to a strong sell rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. WESCO International has an average rating of Hold and a consensus price target of $61.71.

Shares of NYSE WCC traded down $1.68 during midday trading on Friday, hitting $45.01. The stock had a trading volume of 1,509,348 shares, compared to its average volume of 445,114. The company has a market cap of $2.28 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.73. WESCO International has a 1-year low of $43.77 and a 1-year high of $63.20. The company has a quick ratio of 1.31, a current ratio of 2.18 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $49.60.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.17 billion. WESCO International had a return on equity of 10.34% and a net margin of 2.77%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. On average, sell-side analysts anticipate that WESCO International will post 5.39 earnings per share for the current fiscal year.

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

A number of institutional investors have recently added to or reduced their stakes in WCC. Norges Bank acquired a new position in WESCO International during the 4th quarter worth approximately $37,803,000. Diamond Hill Capital Management Inc. lifted its position in WESCO International by 6,102.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 548,764 shares of the technology company’s stock worth $27,795,000 after acquiring an additional 539,917 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in WESCO International during the 1st quarter worth approximately $14,834,000. Foundry Partners LLC lifted its position in WESCO International by 1,442.7% during the 2nd quarter. Foundry Partners LLC now owns 138,847 shares of the technology company’s stock worth $7,033,000 after acquiring an additional 129,847 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in WESCO International by 75.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 293,472 shares of the technology company’s stock worth $15,557,000 after acquiring an additional 125,940 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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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