WESCO International (WCC) is Downgraded by Standpoint Research to Hold

WESCO International (WCC) was Downgraded by Standpoint Research to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Standpoint Research advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on WESCO International. WESCO International was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016. Shares were Reiterated by Oppenheimer on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 49 from a previous price target of $52 .Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Sector Perform” and Lowered the Price Target to $ 47 from a previous price target of $50 .

On the company’s financial health, WESCO International reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $1.02. The company had revenue of $1861.50 million for the quarter, compared to analysts expectations of $1841.71 million. The company’s revenue was down -6.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.40 EPS.

WESCO International closed down -0.1 points or -0.18% at $56.99 with 3,28,367 shares getting traded on Wednesday. Post opening the session at $57.16, the shares hit an intraday low of $56.665 and an intraday high of $57.88 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 3, 2016, James J /ky Obrien (director) purchased 1,540 shares at $38.78 per share price. According to the SEC, on Apr 30, 2015, John Engel (Chairman, President & CEO) sold 22,357 shares at $71.09 per share price. On Apr 30, 2015, Oss Stephen A Van (SVP & COO) sold 22,357 shares at $71.17 per share price, according to the Form-4 filing with the securities and exchange commission.

WESCO International Inc. (WESCO International) 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 advanced supply chain management and logistics services. 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. It offers a portfolio of value-added capabilities which includes supply chain management logistics and transportation procurement warehousing and inventory management as well as kitting limited assembly of products and system installation.

WESCO International

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