WESCO International (WCC) Downgraded by William Blair

WESCO International (NYSE:WCC) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, May 7th, MarketBeat Ratings reports. William Blair also issued estimates for WESCO International’s FY2020 earnings at $5.40 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Northcoast Research reissued a “buy” rating on shares of WESCO International in a research note on Friday, May 3rd. Wells Fargo & Co lifted their price target on shares of WESCO International from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. TheStreet raised shares of WESCO International from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. Finally, Stephens set a $65.00 price target on shares of WESCO International and gave the company a “buy” rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.00.

Shares of WESCO International stock traded down $0.98 during midday trading on Tuesday, hitting $46.83. The company had a trading volume of 528,159 shares, compared to its average volume of 540,023. WESCO International has a 12-month low of $43.94 and a 12-month high of $63.20. The company has a quick ratio of 1.31, a current ratio of 2.18 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2.17 billion, a P/E ratio of 9.72, a PEG ratio of 0.90 and a beta of 1.69.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). WESCO International had a return on equity of 10.34% and a net margin of 2.77%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that WESCO International will post 5.39 earnings per share for the current fiscal year.

In related news, Director James Louis Singleton sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $53.46, for a total value of $160,380.00. Following the sale, the director now directly owns 16,656 shares in the company, valued at approximately $890,429.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John K. Morgan sold 3,077 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total transaction of $157,819.33. Following the completion of the sale, the director now owns 25,984 shares in the company, valued at $1,332,719.36. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCC. Norges Bank acquired a new position in shares of WESCO International during the fourth quarter worth about $37,803,000. Polaris Capital Management LLC boosted its holdings in WESCO International by 5.2% in the fourth quarter. Polaris Capital Management LLC now owns 784,158 shares of the technology company’s stock valued at $37,640,000 after purchasing an additional 39,100 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in WESCO International by 0.5% in the third quarter. TIAA CREF Investment Management LLC now owns 696,223 shares of the technology company’s stock valued at $42,783,000 after purchasing an additional 3,449 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in WESCO International by 1.8% in the first quarter. Frontier Capital Management Co. LLC now owns 555,285 shares of the technology company’s stock valued at $29,436,000 after purchasing an additional 9,678 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in WESCO International by 19.7% in the fourth quarter. Geode Capital Management LLC now owns 532,778 shares of the technology company’s stock valued at $25,573,000 after purchasing an additional 87,644 shares in the last quarter. 98.48% of the stock is owned by institutional investors.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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Analyst Recommendations for WESCO International (NYSE:WCC)

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