WESCO International (NYSE:WCC) Stock Rating Lowered by StockNews.com

WESCO International (NYSE:WCCGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities analysts have also weighed in on WCC. Royal Bank of Canada dropped their price objective on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a research report on Friday, May 3rd. KeyCorp upped their target price on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. reduced their price target on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Robert W. Baird restated a “neutral” rating and set a $195.00 target price (down previously from $200.00) on shares of WESCO International in a research report on Wednesday. Finally, Loop Capital increased their price target on WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.17.

Read Our Latest Stock Report on WESCO International

WESCO International Trading Up 1.1 %

WCC opened at $178.74 on Wednesday. The firm has a 50-day moving average price of $170.90 and a two-hundred day moving average price of $166.34. The stock has a market capitalization of $9.08 billion, a PE ratio of 14.88, a PEG ratio of 1.32 and a beta of 2.07. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCCGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $3.75 EPS. As a group, equities analysts anticipate that WESCO International will post 14.07 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now owns 2,134,683 shares in the company, valued at $369,342,852.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the transaction, the insider now directly owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christine Ann Wolf sold 4,486 shares of WESCO International stock in a transaction on Friday, May 24th. The shares were sold at an average price of $190.13, for a total transaction of $852,923.18. Following the completion of the sale, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,760,312 shares of company stock valued at $304,565,784. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently modified their holdings of WCC. NBC Securities Inc. acquired a new position in WESCO International during the third quarter worth $250,000. Schechter Investment Advisors LLC raised its stake in shares of WESCO International by 95.9% in the third quarter. Schechter Investment Advisors LLC now owns 2,343 shares of the technology company’s stock worth $337,000 after purchasing an additional 1,147 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of WESCO International by 29.8% during the third quarter. New York State Common Retirement Fund now owns 69,402 shares of the technology company’s stock valued at $9,981,000 after buying an additional 15,916 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in WESCO International by 2.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock valued at $7,908,000 after buying an additional 1,390 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in WESCO International by 16.1% during the 3rd quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock valued at $4,922,000 after acquiring an additional 4,733 shares in the last quarter. Institutional investors own 93.76% of the company’s stock.

About WESCO International

(Get Free Report)

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).

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Analyst Recommendations for WESCO International (NYSE:WCC)

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