WESCO International, Inc. (NYSE:WCC)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a report released on Monday, October 2nd. They presently have a $70.00 price objective on the technology company’s stock, up from their prior price objective of $68.00. Morgan Stanley’s target price points to a potential upside of 18.95% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Credit Suisse Group set a $70.00 price target on WESCO International and gave the company a “buy” rating in a report on Saturday, June 10th. Northcoast Research started coverage on WESCO International in a report on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price target for the company. Zacks Investment Research upgraded WESCO International from a “sell” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, July 4th. Standpoint Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Thursday, August 3rd. Finally, TheStreet lowered WESCO International from a “b-” rating to a “c” rating in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.21.

Shares of WESCO International (NYSE WCC) traded down 0.42% during midday trading on Monday, hitting $58.85. 238,324 shares of the stock traded hands. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 27.90 and a beta of 1.80. The company’s 50 day moving average price is $55.11 and its 200-day moving average price is $58.28. WESCO International has a 12-month low of $48.95 and a 12-month high of $76.15.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $1.02 EPS. WESCO International’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts expect that WESCO International will post $3.74 EPS for the current year.

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In related news, CFO David S. Schulz purchased 4,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $51.57 per share, for a total transaction of $206,280.00. Following the purchase, the chief financial officer now owns 9,000 shares in the company, valued at approximately $464,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. boosted its stake in WESCO International by 20.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock valued at $142,710,000 after purchasing an additional 420,292 shares during the period. Investec Asset Management LTD boosted its stake in WESCO International by 24.5% during the 2nd quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after purchasing an additional 217,004 shares during the period. Polaris Capital Management LLC boosted its stake in WESCO International by 1.5% during the 2nd quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock valued at $32,381,000 after purchasing an additional 8,500 shares during the period. Bank of New York Mellon Corp raised its holdings in WESCO International by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock valued at $25,051,000 after acquiring an additional 22,204 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in WESCO International by 15.1% in the 1st quarter. Geode Capital Management LLC now owns 347,305 shares of the technology company’s stock valued at $24,155,000 after acquiring an additional 45,629 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.

Analyst Recommendations for WESCO International (NYSE:WCC)

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