Oppenheimer analyst Christopher Glynn assigned a Buy rating to Wesco International (WCC) today and set a price target of $88.00. The company’s shares closed last Tuesday at $75.51, close to its 52-week high of $77.93.
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 13.5% and a 64.4% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Generac Holdings.
Currently, the analyst consensus on Wesco International is a Strong Buy with an average price target of $80.25, which is a 4.5% upside from current levels. In a report issued on December 8, Wolfe Research also upgraded the stock to Buy with a $92.00 price target.
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Based on Wesco International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.14 billion and net profit of $80.68 million. In comparison, last year the company earned revenue of $2.15 billion and had a net profit of $64.5 million.
Based on the recent corporate insider activity of 28 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 & operating and original equipment manufacturers products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable & conduit, communications & security, electrical distribution and controls, lighting & sustainability and automation, controls & motors. The company was founded in 1993 and is headquartered in Pittsburgh, PA.
