Standpoint Research Thinks Wesco International’s Stock is Going to Recover


In a report issued on October 12, Ronnie Moas from Standpoint Research upgraded Wesco International (NYSE: WCC) to Buy. The company’s shares closed on Friday at $51.82, close to its 52-week low of $51.44.

According to TipRanks.com, Moas is a 5-star analyst with an average return of 5.7% and a 68.7% success rate. Moas covers the Consumer Goods sector, focusing on stocks such as Ultra Clean Holdings, Tower Semiconductor, and Spirit AeroSystems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wesco International with a $67 average price target.

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Based on Wesco International’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $57.94 million. In comparison, last year the company had a net profit of $53.68 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WCC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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