Wesco International (WCC) Receives a Buy from Oppenheimer
Oppenheimer analyst Christopher Glynn maintained a Buy rating on Wesco International (WCC) yesterday and set a price target of $74.00. The company’s shares closed last Monday at $43.74, close to its 52-week low of $42.03.
According to TipRanks.com, Glynn is a 4-star analyst with an average return of 5.8% and a 57.0% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wesco International with a $66.00 average price target.
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Based on Wesco International’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $53.1 million. In comparison, last year the company had a net profit of $58.2 million.
Based on the recent corporate insider activity of 29 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.
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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.