WESCO International stock neutral rating target price $70.00 by zacks : Zacks lowered shares of WESCO International (NYSE: WCC) from an outperform rating to a neutral rating in a report released on Tuesday, Analyst Ratings Network.com reports. Zacks currently has $70.00 target price on the stock.
Zacks’ analyst wrote, “WESCO is one of the largest distributors of electrical products in the U.S. The company’s fourth quarter earnings and forward guidance missed the Zacks Consensus Estimates. WESCO’s strong market position, the turnaround in the industrial and utility markets, gradual recovery in the construction market, the global account model, restructuring benefits and the LEAN initiative are positive factors. However, results bear a positive correlation to GDP growth, which has been sluggish in recent times. Additionally, while EECOL will add to earnings this year, it resulted in a significant increase in debts, which makes the shares more risky. We are therefore downgrading WESCO shares to Neutral.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Longbow Research upgraded shares of WESCO International from a neutral rating to a buy rating in a research note to investors on Monday, April 8th. Separately, analysts at Credit Suisse raised their price target on shares of WESCO International from $84.00 to $90.00 in a research note to investors on Monday, March 25th. They now have an outperform rating on the stock. Finally, analysts at UBS AG downgraded shares of WESCO International from a buy rating to a neutral rating in a research note to investors on Monday, February 4th. They now have a $75.00 price target on the stock, up previously from $71.00.
One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $72.36.
Shares of WESCO International (NYSE: WCC) opened at 67.68 on Tuesday. WESCO International has a 52 week low of $65.99 and a 52 week high of $77.97. The stock’s 50-day moving average is currently $73.3. The company has a market cap of $2.984 billion and a P/E ratio of 17.13.
WESCO International, Inc. (NYSE: WCC) is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and Government markets.