In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Wesco International (WCC). The company’s shares closed yesterday at $54.19.
“WCC delivered 4Q18 OM in the upper part of guidance (4.5% vs. 4.3-4.6% guide), despite sales rounding up to the low end, as SG&A lapped higher spend restoration in 2H18, and GM performed well. Guidance for 1Q sales growth of (2)-2% compares to 3-6% for 2019, with FX ~(2)%/(1)%, but also slower start to organic growth. This reflects solid end-market signals vs. recent month-to-month volatility: December up 4% was strongest of 4Q despite toughest y-o-y comparison within 4Q17. Also, 1Q19 faces the toughest comparison of the year, and though not so much on multi-year stacked comparisons, we believe normal seasonal patterns support the lower half of the full-year range.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.8% and a 59.5% 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 Moderate Buy, with a price target consensus of $58.67, which is an 8.3% upside from current levels. In a report issued on February 1, Robert W. Baird also maintained a Hold rating on the stock with a $59 price target.
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The company has a one-year high of $66.65 and a one-year low of $43.94. Currently, Wesco International has an average volume of 510.5K.
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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.