Oppenheimer Issues Pessimistic Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its price objective decreased by equities researchers at Oppenheimer from $225.00 to $195.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price points to a potential upside of 22.71% from the stock’s current price.

Other analysts have also issued research reports about the company. Stephens boosted their price target on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada increased their price objective on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. KeyCorp lowered their price target on WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Finally, StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.14.

WESCO International Price Performance

WCC stock opened at $158.91 on Monday. The company has a fifty day simple moving average of $157.30 and a two-hundred day simple moving average of $179.42. WESCO International has a 52 week low of $125.21 and a 52 week high of $216.17. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $7.75 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.92.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter in the previous year, the company posted $2.30 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that WESCO International will post 13.3 earnings per share for the current fiscal year.

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of WESCO International by 6,769.8% during the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company’s stock worth $70,862,000 after purchasing an additional 449,648 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in WESCO International by 88.2% in the 1st quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company’s stock valued at $117,839,000 after acquiring an additional 355,570 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in WESCO International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock worth $46,148,000 after purchasing an additional 152,727 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of WESCO International by 167.3% during the 4th quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock worth $34,777,000 after purchasing an additional 120,289 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of WESCO International by 62.9% during the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company’s stock worth $38,906,000 after acquiring an additional 83,031 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Company Profile

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).