WESCO International’s (WCC) Buy Rating Reiterated at Credit Suisse Group AG

Credit Suisse Group AG reissued their buy rating on shares of WESCO International, Inc. (NYSE:WCC) in a research note released on Thursday morning. They currently have a $83.00 target price on the stock.

Several other analysts also recently commented on the stock. TheStreet raised shares of WESCO International from a c rating to a b- rating in a research report on Tuesday, March 7th. Zacks Investment Research raised shares of WESCO International from a strong sell rating to a hold rating in a research report on Monday, January 30th. Barclays PLC set a $65.00 price objective on shares of WESCO International and gave the stock a hold rating in a research report on Thursday, January 26th. Royal Bank of Canada set a $66.00 price objective on shares of WESCO International and gave the stock a hold rating in a research report on Wednesday, January 4th. Finally, William Blair raised shares of WESCO International from a market perform rating to an outperform rating in a research report on Monday, December 5th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $67.14.

Analyst Recommendations for WESCO International (NYSE:WCC)

WESCO International (NYSE:WCC) opened at 69.35 on Thursday. The firm has a 50-day moving average of $70.72 and a 200-day moving average of $65.46. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 33.02 and a beta of 1.69. WESCO International has a 52 week low of $49.67 and a 52 week high of $76.15.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The company earned $1.79 billion during the quarter, compared to the consensus estimate of $1.81 billion. WESCO International had a net margin of 1.38% and a return on equity of 9.49%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Equities analysts forecast that WESCO International will post $3.86 earnings per share for the current year.

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In other WESCO International news, Chairman John Engel sold 75,171 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $70.30, for a total transaction of $5,284,521.30. Following the transaction, the chairman now directly owns 138,278 shares in the company, valued at approximately $9,720,943.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra Beach Lin sold 1,731 shares of the firm’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $70.49, for a total value of $122,018.19. Following the transaction, the director now owns 11,961 shares in the company, valued at $843,130.89. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Ronald Blue & Co. LLC bought a new position in shares of WESCO International during the third quarter valued at $210,000. Comerica Bank bought a new position in shares of WESCO International during the fourth quarter valued at $210,000. Tyers Asset Management LLC bought a new position in shares of WESCO International during the fourth quarter valued at $215,000. Cantab Capital Partners LLP boosted its position in shares of WESCO International by 311.3% in the fourth quarter. Cantab Capital Partners LLP now owns 4,039 shares of the company’s stock valued at $269,000 after buying an additional 3,057 shares during the period. Finally, Elkfork Partners LLC bought a new position in shares of WESCO International during the fourth quarter valued at $296,000.

About WESCO International

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.

5 Day Chart for NYSE:WCC

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