WESCO International (NYSE:WCC) Cut to Hold at StockNews.com

WESCO International (NYSE:WCC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also recently weighed in on WCC. Robert W. Baird boosted their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp boosted their target price on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Oppenheimer raised their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stephens increased their price objective on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their target price on shares of WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.88.

WESCO International Stock Down 0.5 %

WESCO International stock traded down $0.91 during mid-day trading on Thursday, reaching $183.21. The stock had a trading volume of 554,925 shares, compared to its average volume of 546,524. WESCO International has a one year low of $132.37 and a one year high of $216.17. The company has a 50-day moving average price of $195.33 and a two-hundred day moving average price of $175.53. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.55 and a beta of 2.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.49 earnings per share. On average, analysts expect that WESCO International will post 12.3 EPS for the current fiscal year.

Insider Transactions at WESCO International

In related news, EVP William Clayton Geary sold 2,829 shares of WESCO International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total transaction of $582,010.17. Following the transaction, the executive vice president now owns 35,063 shares in the company, valued at approximately $7,213,510.99. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,767 shares of company stock worth $5,567,454 in the last 90 days. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WESCO International

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of WESCO International during the 3rd quarter valued at about $592,000. Geode Capital Management LLC grew its position in shares of WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after purchasing an additional 22,080 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of WESCO International by 0.4% in the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after purchasing an additional 85 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of WESCO International by 80.4% in the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock worth $2,021,000 after buying an additional 5,363 shares in the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).