Wesco (NYSE:WCC) Rating Reaffirmed
The equities firm has just set a Estimated Target Price of $52 on Wesco (NYSE:WCC) shares. This is 21.21% from the closing share price. In a very recent research note disseminated on Wednesday, 16 December, Oppenheimer has decided to restate their Outperform rating on shares of WCC.
From a total of 12 analysts covering Wesco International Inc. (NYSE:WCC) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 13 a ”Hold”. This means that 28% of the ratings are positive. The highest target price is $68 while the lowest target price is $43. The mean of all analyst targets is $52.5 with a 25.66% above today’s ($42.9) stock price. Wesco International Inc. was the topic of 15 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on October 23 with “Outperform” rating. Stephens downgraded shares to “Equal Weight” rating and $70 target share price in a report from a July 24. UBS initiated WCC stock in a recent report from September 17 with “Neutral” rating. Finally, Standpoint Research upgraded the stock to “Hold” rating in a report issued on an August 24.
It is down 40.65% since May 13, 2015 and is downtrending. It has underperformed by 38.02% the S&P500.
The overall sentiment of institutions has decreased to 0.86 in Q2 2015. Its down 0.26, from 1.12 in 2015Q2. The ratio turned negative, as 46 institutions have sold all the shares of WESCO International, Inc. that they owned while 66 funds have taken shares off the table. 22 funds have purchased shares for the first time while 74 added to their positions. These institutions now hold 48.92 million shares or 9.56% less than the 54.09 million shares they owned in 2015Q2.
The Fund Edgepoint Investment Group Inc. currently is holding shares equating to 4.32% of its total portfolio in WESCO International, Inc. representing a total of 4.68 million shares. Another fund,Tensile Capital Management Llc, is holding a total of 306,520 shares equating to 4.26% of their holdings. Additionally, Olstein Capital Management L.P. has a 265,000 share stake in WESCO International, Inc. which represents 1.53% of their total portfolio. The Fund, Selway Asset Management, based out of Idaho, has also built up a stake in the stock, which represents a total of 1.42% of their total portfolio. Finally Cooke & Bieler Lp, a fund which is based in the state of Pennsylvania reported a total holdings of 957,250 shares.
WESCO International, Inc. is a distributor of products and well-known provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The company has a market cap of $1.81 billion. The Firm is a well-known provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials and advanced supply chain management and logistics services. It has 9.37 P/E ratio. The Company’s product categories include general electrical and industrial supplies, wire, cable and conduit, data and broadband communications, power distribution equipment, lighting and lighting control systems, control and automation, motors, and safety.
According to Zacks Investment Research, “Wesco International, Inc. is a leading provider of electrical products and other industrial MRO supplies and services in North America. The company is also a provider of Integrated Supply services. Their Integrated Supply solutions and outsourcing services fulfill all of a customer’s industrial MRO procurement needs through a highly automated, proprietary electronic procurement and inventory replenishment system.”