WESCO International (WCC) Now Covered by UBS Group

UBS Group assumed coverage on shares of WESCO International (NYSE:WCC) in a research note issued on Tuesday, www.briefing.com reports. The brokerage set a “neutral” rating and a $70.00 price target on the technology company’s stock. UBS Group’s target price indicates a potential upside of 6.79% from the company’s current price.

Other equities analysts have also issued research reports about the company. KeyCorp reiterated a “buy” rating and issued a $64.00 price target on shares of WESCO International in a research report on Thursday, October 12th. Zacks Investment Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday, October 31st. ValuEngine upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird reiterated a “hold” rating and issued a $56.00 price target on shares of WESCO International in a research report on Wednesday, October 4th. Finally, Standpoint Research lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $68.92.

WESCO International (WCC) opened at $65.55 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.42. WESCO International has a 1 year low of $48.95 and a 1 year high of $76.15. The firm has a market capitalization of $3,090.38, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.49 and a beta of 1.95.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.09. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company posted $1.05 EPS. WESCO International’s revenue for the quarter was up 7.8% on a year-over-year basis. research analysts expect that WESCO International will post 3.88 earnings per share for the current fiscal year.

WESCO International announced that its Board of Directors has approved a share buyback program on Wednesday, December 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

In other WESCO International news, Director James Louis Singleton sold 3,288 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total transaction of $211,254.00. Following the completion of the sale, the director now directly owns 19,477 shares in the company, valued at approximately $1,251,397.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TIAA CREF Investment Management LLC raised its stake in shares of WESCO International by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 81,095 shares of the technology company’s stock worth $4,647,000 after purchasing an additional 659 shares in the last quarter. Amalgamated Bank raised its stake in shares of WESCO International by 26.3% during the 2nd quarter. Amalgamated Bank now owns 8,789 shares of the technology company’s stock worth $504,000 after purchasing an additional 1,831 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of WESCO International by 10.6% during the 2nd quarter. New York State Common Retirement Fund now owns 208,454 shares of the technology company’s stock worth $11,944,000 after purchasing an additional 19,953 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of WESCO International by 5.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 43,475 shares of the technology company’s stock worth $2,491,000 after purchasing an additional 2,061 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of WESCO International by 32.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after purchasing an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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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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