WESCO International, Inc. (NYSE:WCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, November 1st.
According to Zacks, “Wesco is one of the major distributors of electrical products in the U.S. Year to date, the stock has underperformed the industry it belongs to. The company’s third-quarter 2017 beat the Zacks Consensus Estimate on both counts. WESCO continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions by integrating its portfolio of products and services and its supplier relationships. The company has a comprehensive portfolio of products and services, and a sizable global footprint, which will help drive growth, going forward. However, foreign exchange risk, supplier concentration, a significant debt load and limited liquidity remain concerns.”
Several other analysts also recently commented on the stock. Credit Suisse Group set a $70.00 price objective on shares of WESCO International and gave the company an “outperform” rating in a research report on Tuesday, October 31st. UBS AG raised their target price on shares of WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Wells Fargo & Company raised their target price on shares of WESCO International from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Wolfe Research cut shares of WESCO International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. Finally, Robert W. Baird restated a “hold” rating and issued a $67.00 target price on shares of WESCO International in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. WESCO International currently has a consensus rating of “Hold” and an average price target of C$68.46.
WESCO International (WCC) opened at C$62.30 on Wednesday. The company has a market cap of $2,928.23, a PE ratio of 16.14, a PEG ratio of 1.61 and a beta of 1.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.42 and a current ratio of 2.31. WESCO International has a one year low of C$48.95 and a one year high of C$76.15.
WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 26th. The company reported C$1.12 EPS for the quarter, beating the Zacks’ consensus estimate of C$1.03 by C$0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The firm had revenue of C$2 billion for the quarter, compared to analysts’ expectations of C$1.93 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. sell-side analysts predict that WESCO International will post 3.87 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of WCC. Janney Capital Management LLC acquired a new stake in shares of WESCO International during the second quarter worth about $202,000. D.A. Davidson & CO. grew its position in shares of WESCO International by 32.0% during the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the company’s stock worth $204,000 after acquiring an additional 866 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of WESCO International during the second quarter worth approximately $229,000. Quantbot Technologies LP purchased a new position in shares of WESCO International during the second quarter worth approximately $238,000. Finally, OppenheimerFunds Inc. grew its position in shares of WESCO International by 14.3% during the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the company’s stock worth $348,000 after acquiring an additional 626 shares during the last quarter. 96.97% of the stock is currently 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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