WESCO International (NYSE:WCC) Rating Lowered 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 report issued on Tuesday.

A number of other analysts have also recently issued reports on WCC. JPMorgan Chase & Co. reduced their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. KeyCorp boosted their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $172.00 price target on shares of WESCO International in a research report on Thursday, June 20th. Oppenheimer boosted their price target on WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Loop Capital boosted 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 issued a buy rating to the company. According to MarketBeat.com, WESCO International currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.17.

WESCO International Price Performance

WCC opened at $159.23 on Tuesday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.13 and a beta of 2.06. 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. The stock has a fifty day moving average price of $171.96 and a 200 day moving average price of $168.13.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The firm had revenue of $5.35 billion for 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%. WESCO International’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.75 EPS. Analysts forecast that WESCO International will post 14.07 EPS for the current fiscal year.

Insider Transactions at WESCO International

In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of WESCO International stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now directly owns 2,134,683 shares in the company, valued at $369,342,852.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of WESCO International stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now directly owns 2,134,683 shares in the company, valued at $369,342,852.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine Ann Wolf sold 4,486 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares in the company, valued at $5,761,699.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,754,960 shares of company stock worth $303,728,784. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KB Financial Partners LLC lifted its holdings in WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares in the last quarter. GAMMA Investing LLC lifted its holdings in WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Rise Advisors LLC acquired a new position in WESCO International during the 1st quarter worth $26,000. Anchor Investment Management LLC acquired a new position in WESCO International during the 4th quarter worth $48,000. Finally, Quent Capital LLC lifted its holdings in WESCO International by 9.9% during the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after buying an additional 333 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

About WESCO International

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).