WESCO International, Inc. (WCC) Given a $70.00 Price Target at Credit Suisse Group

Credit Suisse Group set a $70.00 price objective on WESCO International, Inc. (NYSE:WCC) in a research note released on Tuesday. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on WCC. Wells Fargo & Company increased their price objective on WESCO International from $67.00 to $75.00 and gave the stock an outperform rating in a research report on Friday, October 27th. UBS AG increased their price objective on WESCO International from $55.00 to $65.00 and gave the stock a neutral rating in a research report on Friday, October 27th. Robert W. Baird reiterated a hold rating and issued a $56.00 price objective on shares of WESCO International in a research report on Wednesday, October 4th. Wolfe Research downgraded WESCO International from an outperform rating to a market perform rating in a research report on Friday, October 27th. Finally, Royal Bank Of Canada reissued a hold rating on shares of WESCO International in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $68.29.

WESCO International (NYSE:WCC) traded down 2.93% during mid-day trading on Tuesday, reaching $61.30. The company had a trading volume of 90,186 shares. WESCO International has a one year low of $48.95 and a one year high of $76.15. The stock has a market capitalization of $2.94 billion, a PE ratio of 29.07 and a beta of 1.80. The company’s 50-day moving average is $58.53 and its 200-day moving average is $57.55.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. WESCO International had a return on equity of 9.17% and a net margin of 2.52%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. Equities research analysts anticipate that WESCO International will post $3.86 earnings per share for the current year.

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In related news, CFO David S. Schulz acquired 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the completion of the acquisition, the chief financial officer now directly owns 9,000 shares of the company’s stock, valued at approximately $464,130. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of WESCO International by 3.3% during the first quarter. Amalgamated Bank now owns 6,958 shares of the technology company’s stock valued at $484,000 after purchasing an additional 225 shares during the last quarter. Selway Asset Management lifted its holdings in shares of WESCO International by 1.2% during the second quarter. Selway Asset Management now owns 25,100 shares of the technology company’s stock valued at $1,438,000 after purchasing an additional 300 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of WESCO International by 3.4% during the second quarter. Neuberger Berman Group LLC now owns 9,878 shares of the technology company’s stock valued at $566,000 after purchasing an additional 326 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of WESCO International by 14.3% during the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after purchasing an additional 626 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of WESCO International by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 81,095 shares of the technology company’s stock valued at $4,647,000 after purchasing an additional 659 shares during the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

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.

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