WESCO International (NYSE:WCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $72.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.15% from the company’s previous close.
According to Zacks, “WESCO reported strong fourth-quarter 2017 results. Both earnings and revenues increased on a year-over-year basis. Top-line growth was driven by strong end-market results, product and services portfolio strength and robust performance in certain geographies. Moreover, focus on growth and pricing strategies accelerated the sales number. The company continues with its focus on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions. However, supplier concentration, a significant debt load and limited liquidity remain concerns. In the past year, the stock has underperformed the industry it belongs to.”
Several other research analysts have also recently weighed in on the company. ValuEngine raised WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 target price on shares of WESCO International in a research note on Friday, October 27th. Wolfe Research cut WESCO International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. UBS Group raised their target price on WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group set a $70.00 target price on WESCO International and gave the company an “outperform” rating in a research note on Tuesday, October 31st. One 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 company currently has a consensus rating of “Hold” and an average target price of $69.00.
Shares of WESCO International (WCC) traded up $0.20 on Tuesday, hitting $64.20. The stock had a trading volume of 119,470 shares, compared to its average volume of 447,678. The firm has a market capitalization of $3,008.13, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.37 and a beta of 1.86. 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 52 week low of $48.95 and a 52 week high of $73.30.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.93 billion. WESCO International had a return on equity of 9.10% and a net margin of 2.13%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. research analysts expect that WESCO International will post 4.67 earnings per share for the current fiscal year.
WESCO International declared that its board has authorized a share buyback plan on Wednesday, December 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director James Louis Singleton sold 3,288 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total value of $211,254.00. Following the completion of the transaction, the director now owns 19,477 shares in the company, valued at approximately $1,251,397.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of WESCO International in the 4th quarter valued at $140,000. ETRADE Capital Management LLC acquired a new position in shares of WESCO International in the 4th quarter valued at $201,000. Capital Fund Management S.A. acquired a new position in shares of WESCO International in the 4th quarter valued at $218,000. Janney Capital Management LLC boosted its position in shares of WESCO International by 47.4% in the 3rd quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock valued at $302,000 after purchasing an additional 1,672 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of WESCO International in the 4th quarter valued at $375,000. Institutional investors and hedge funds own 99.31% of the company’s stock.
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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