Oppenheimer Keeps a Hold Rating on Wesco International


Oppenheimer analyst Christopher Glynn maintained a Hold rating on Wesco International (NYSE: WCC) yesterday. The company’s shares closed yesterday at $60.40.

Glynn commented:

“We discussed end-market dynamics, opportunities to expand gross margin, and signs of sustainable solid organic growth into stronger 2H comparable period. WCC sees industrial cycle growth as early innings, noting longer cycle industries are starting to swing back (O&G just ~7% of sales, vs. 10% prior peak and 5% recent trough) and expected capex spending boost post-tax reform (nothing material yet). Management characterized current SG&A level as very comfortable (merit increases fully restored), and positioned well to drive robust pull-through of incremental gross profit (50% to OP). Opportunity for abating GM headwinds follows logical progression of key factors, in our view.”

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 10.7% and a 67.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.

Wesco International has an analyst consensus of Hold.

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Based on Wesco International’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $44.42 million. In comparison, last year the company had a net profit of $37.73 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock.

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WESCO International, Inc. is a holding company, which engages in the provision of electrical, industrial, and communications maintenance, repair, and operating; and original equipment manufacturers products. It also offers construction materials, and supply chain management and logistics services.

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