WESCO International (NYSE:WCC) Cut to Hold at StockNews.com

WESCO International (NYSE:WCC - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently weighed in on WCC. KeyCorp boosted their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Robert W. Baird boosted their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Oppenheimer raised their price target on WESCO International from $205.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on WESCO International from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, WESCO International presently has an average rating of "Moderate Buy" and a consensus price target of $217.63.

WESCO International Stock Up 1.6 %

Shares of WESCO International stock traded up $3.17 during midday trading on Wednesday, hitting $196.84. The company had a trading volume of 467,525 shares, compared to its average volume of 561,363. The company has a 50 day moving average of $186.64 and a 200 day moving average of $179.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International has a 52-week low of $141.02 and a 52-week high of $216.17. The stock has a market capitalization of $9.65 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.34 and a beta of 2.01.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. On average, equities analysts predict that WESCO International will post 12.3 earnings per share for the current fiscal year.

Institutional Trading of WESCO International

Several hedge funds have recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its holdings in WESCO International by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 14,061 shares of the technology company's stock valued at $2,544,000 after purchasing an additional 4,210 shares during the period. State of Tennessee Department of Treasury grew its holdings in WESCO International by 38.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 18,123 shares of the technology company's stock valued at $3,280,000 after purchasing an additional 5,051 shares during the period. MetLife Investment Management LLC boosted its stake in shares of WESCO International by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 25,093 shares of the technology company's stock worth $4,541,000 after acquiring an additional 1,991 shares during the period. Gabelli Funds LLC bought a new position in shares of WESCO International in the fourth quarter worth about $633,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of WESCO International in the fourth quarter worth about $1,094,000. Institutional investors own 93.76% of the company's stock.

About WESCO International

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).