WESCO International (NYSE:WCC) Stock Rating Lowered by StockNews.com

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

Other equities analysts have also issued reports about the company. Royal Bank of Canada boosted their price target on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Loop Capital raised their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. KeyCorp boosted their price target on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Robert W. Baird lifted their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Stephens increased their price target on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.88.

WESCO International Stock Performance

WCC stock opened at $178.44 on Thursday. WESCO International has a 52 week low of $132.37 and a 52 week high of $216.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The stock has a market cap of $8.74 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.55 and a beta of 2.02. The firm has a 50 day simple moving average of $195.33 and a 200 day simple moving average of $175.53.

WESCO International (NYSE:WCC) last released its quarterly 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. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company posted $4.49 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. Research analysts anticipate that WESCO International will post 12.3 earnings per share for the current fiscal year.

Insider Transactions at WESCO International

In other news, CFO David S. Schulz sold 14,938 shares of the business’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 in the company, valued at $21,578,485.05. The trade was a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock worth $5,567,454 in the last quarter. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after purchasing an additional 75 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in WESCO International during the third quarter worth approximately $592,000. Geode Capital Management LLC raised its stake in WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after buying an additional 22,080 shares during the period. MetLife Investment Management LLC lifted its position 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 valued at $3,881,000 after buying an additional 85 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of WESCO International by 80.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock worth $2,021,000 after acquiring an additional 5,363 shares during the period. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).