Analysts Set WESCO International, Inc. (WCC) Price Target at $68.25

WESCO International, Inc. (NYSE:WCC) has earned an average recommendation of “Buy” from the twenty research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $68.25.

Several research firms have issued reports on WCC. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, August 3rd. UBS AG reissued a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of WESCO International in a research note on Monday, July 31st. BidaskClub downgraded shares of WESCO International from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Northcoast Research began coverage on shares of WESCO International in a research note on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price target on the stock.

In other news, CFO David S. Schulz bought 4,000 shares of WESCO International stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $51.57 per share, with a total value of $206,280.00. Following the completion of the purchase, the chief financial officer now directly owns 9,000 shares of the company’s stock, valued at $464,130. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors Inc. increased its position in shares of WESCO International by 20.3% in the second quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock worth $142,710,000 after buying an additional 420,292 shares during the period. Investec Asset Management LTD increased its position in shares of WESCO International by 24.5% in the second quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock worth $63,236,000 after buying an additional 217,004 shares during the period. Polaris Capital Management LLC increased its position in shares of WESCO International by 1.5% in the second quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock worth $32,381,000 after buying an additional 8,500 shares during the period. Bank of New York Mellon Corp increased its position in shares of WESCO International by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock worth $25,051,000 after buying an additional 22,204 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of WESCO International by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 391,738 shares of the technology company’s stock worth $27,245,000 after buying an additional 11,761 shares during the period. 98.17% of the stock is currently owned by institutional investors.

Shares of WESCO International (NYSE:WCC) traded up 0.69% during mid-day trading on Wednesday, reaching $50.80. 247,360 shares of the company’s stock traded hands. The company has a market cap of $2.44 billion, a P/E ratio of 24.09 and a beta of 1.76. The company’s 50 day moving average is $52.53 and its 200 day moving average is $61.17. 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, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. On average, analysts predict that WESCO International will post $3.74 EPS for the current fiscal year.

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About WESCO International

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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