WESCO International, Inc. (WCC) Short Interest Up 142.3% in November

WESCO International, Inc. (NYSE:WCC) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,386,451 shares, a growth of 142.3% from the October 31st total of 984,801 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average daily trading volume, of 750,132 shares, the days-to-cover ratio is currently 3.2 days.

Several large investors have recently modified their holdings of the company. Investec Asset Management LTD boosted its stake in shares of WESCO International by 6.6% in the 2nd quarter. Investec Asset Management LTD now owns 1,097,115 shares of the technology company’s stock valued at $62,645,000 after purchasing an additional 68,275 shares in the last quarter. Polaris Capital Management LLC boosted its stake in shares of WESCO International by 9.6% in the 3rd quarter. Polaris Capital Management LLC now owns 745,058 shares of the technology company’s stock valued at $45,784,000 after purchasing an additional 65,047 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of WESCO International by 0.5% in the 3rd 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 stake in shares of WESCO International by 37.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 545,655 shares of the technology company’s stock valued at $33,531,000 after purchasing an additional 149,896 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of WESCO International by 5.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 416,540 shares of the technology company’s stock valued at $25,592,000 after purchasing an additional 23,252 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.

Shares of NYSE:WCC opened at $53.67 on Tuesday. WESCO International has a 52 week low of $47.44 and a 52 week high of $69.35. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.50 and a current ratio of 2.38. The firm has a market capitalization of $2.49 billion, a PE ratio of 13.66, a PEG ratio of 1.11 and a beta of 1.86.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, November 1st. The technology company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.05. WESCO International had a net margin of 2.35% and a return on equity of 10.09%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that WESCO International will post 4.8 EPS for the current year.

WCC has been the topic of several analyst reports. UBS Group boosted their price target on shares of WESCO International from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. ValuEngine lowered shares of WESCO International from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Royal Bank of Canada reissued a “hold” rating and issued a $61.00 price target on shares of WESCO International in a report on Friday, November 2nd. Finally, Robert W. Baird lowered their price target on shares of WESCO International from $68.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. WESCO International currently has a consensus rating of “Hold” and a consensus target price of $63.75.

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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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