WESCO International (NYSE:WCC) Lowered to Hold Rating by 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 note issued to investors on Thursday.

WCC has been the topic of several other reports. Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Stephens boosted their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada boosted their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.88.

WESCO International Stock Down 0.5 %

Shares of NYSE WCC traded down $0.91 during trading on Thursday, hitting $183.21. 554,925 shares of the company traded hands, compared to its average volume of 546,524. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.55 and a beta of 2.02. The business’s fifty day moving average is $195.33 and its 200 day moving average is $175.53. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International has a fifty-two week low of $132.37 and a fifty-two week high of $216.17.

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

Insider Buying and Selling

In related news, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the sale, the chief financial officer now directly owns 104,471 shares of the company’s stock, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now directly 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 a total of 27,767 shares of company stock worth $5,567,454 in the last 90 days. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

A number of large investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of WESCO International in the 2nd quarter worth about $52,782,000. Thompson Siegel & Walmsley LLC increased its stake in shares of WESCO International by 341.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after acquiring an additional 199,975 shares in the last quarter. Geode Capital Management LLC lifted its position in WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after acquiring an additional 22,080 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in WESCO International by 142.8% during the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after acquiring an additional 17,682 shares in the last quarter. Institutional investors own 93.76% of the company’s stock.

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).