WESCO International (WCC) is Initiated by Macquarie to Neutral, Price Target at $64

WESCO International (WCC) was Initiated by Macquarie to “Neutral” and the brokerage firm has set the Price Target at $64. Macquarie advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on WESCO International. WESCO International was Upgraded by Longbow to ” Buy” on Aug 24, 2016. WESCO International was Resumed by Credit Suisse to “Outperform” on Jun 17, 2016.

On the company’s financial health, WESCO International reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.97. The company had revenue of $1911.60 million for the quarter, compared to analysts expectations of $1874.11 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

WESCO International opened for trading at $60 and hit $60.49 on the upside on Tuesday, eventually ending the session at $60.29, with a gain of 1.17% or 0.7 points. The heightened volatility saw the trading volume jump to 6,29,647 shares. Company has a market cap of $2,549 M.

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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