WESCO International (WCC) Rating Lowered to Hold at Zacks Investment Research

WESCO International (NYSE:WCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “WESCO’s top-line growth continues to benefit from strengthening end-markets and robust product and services portfolio. Moreover, strong focus on growth and pricing strategies remain positive for the company’s market position. WESCO continues with its efforts on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions. Estimates have been stable lately ahead of the company’s Q1 earnings release. The company has positive record of earnings surprises in recent quarters. However, supplier concentration, a significant debt load and limited liquidity remain concerns. In the past year, the stock has underperformed the industry it belongs to. “

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A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. UBS started coverage on WESCO International in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. WESCO International currently has a consensus rating of “Hold” and a consensus target price of $68.82.

Shares of WCC stock opened at $63.20 on Friday. The firm has a market capitalization of $2,997.47, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.36 and a beta of 1.84. WESCO International has a fifty-two week low of $48.95 and a fifty-two week high of $69.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.40 and a current ratio of 2.31.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, February 1st. The technology company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. 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 9.06% and a net margin of 2.13%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. analysts forecast that WESCO International will post 4.67 earnings per share for the current year.

In related news, Director Lynn M. Utter sold 737 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $63.57, for a total transaction of $46,851.09. Following the sale, the director now owns 11,116 shares of the company’s stock, valued at approximately $706,644.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn M. Utter sold 768 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $65.56, for a total value of $50,350.08. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polaris Capital Management LLC boosted its holdings in shares of WESCO International by 169.8% during the 4th quarter. Polaris Capital Management LLC now owns 1,793,516 shares of the technology company’s stock valued at $34,095,000 after acquiring an additional 1,128,805 shares in the last quarter. Investec Asset Management LTD boosted its holdings in shares of WESCO International by 1.2% during the 4th quarter. Investec Asset Management LTD now owns 1,106,832 shares of the technology company’s stock valued at $75,431,000 after acquiring an additional 12,631 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of WESCO International by 134.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 505,648 shares of the technology company’s stock valued at $34,460,000 after acquiring an additional 290,016 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of WESCO International by 47.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 460,615 shares of the technology company’s stock valued at $31,391,000 after acquiring an additional 147,900 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of WESCO International by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 429,157 shares of the technology company’s stock valued at $29,248,000 after acquiring an additional 8,906 shares in the last quarter.

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WESCO International Company Profile

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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