WESCO International, Inc. (WCC) Given “Hold” Rating at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of WESCO International, Inc. (NYSE:WCC) in a research note issued to investors on Wednesday morning. Robert W. Baird currently has a $56.00 target price on the technology company’s stock.
A number of other equities analysts have also recently issued reports on WCC. Zacks Investment Research upgraded WESCO International from a sell rating to a hold rating in a report on Monday. Royal Bank Of Canada reiterated a hold rating on shares of WESCO International in a report on Wednesday, July 12th. Standpoint Research upgraded WESCO International from a hold rating to a buy rating and set a $63.00 price objective for the company in a report on Thursday, August 3rd. Credit Suisse Group set a $70.00 price objective on WESCO International and gave the stock a buy rating in a report on Saturday, June 10th. Finally, Morgan Stanley reiterated an overweight rating and issued a $70.00 price objective (up from $68.00) on shares of WESCO International in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. WESCO International currently has a consensus rating of Buy and an average target price of $67.29.
WESCO International (NYSE:WCC) traded up 0.77% during trading on Wednesday, reaching $59.15. The company’s stock had a trading volume of 191,408 shares. The stock has a 50-day moving average price of $53.45 and a 200 day moving average price of $58.71. The company has a market cap of $2.84 billion, a PE ratio of 28.05 and a beta of 1.80. WESCO International has a 52-week low of $48.95 and a 52-week 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 analysts’ consensus estimates of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business earned $1.02 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect that WESCO International will post $3.74 EPS for the current year.
In other WESCO International news, CFO David S. Schulz purchased 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $51.57 per share, with a total value of $206,280.00. Following the transaction, the chief financial officer now directly owns 9,000 shares of the company’s stock, valued at approximately $464,130. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investec Asset Management LTD raised its position 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 last quarter. Airain ltd bought a new position in WESCO International during the 2nd quarter valued at approximately $1,983,000. Systematic Financial Management LP raised its position in WESCO International by 22.7% during the 2nd quarter. Systematic Financial Management LP now owns 31,130 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 5,765 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in WESCO International during the 1st quarter valued at approximately $8,096,000. Finally, Canada Pension Plan Investment Board raised its position in WESCO International by 4.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,000 shares of the technology company’s stock valued at $16,846,000 after purchasing an additional 13,300 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.
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.
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