In a report released on September 7, Deane Dray from RBC Capital maintained a Buy rating on Wesco International (WCC – Research Report), with a price target of $178.00. The company’s shares closed yesterday at $144.64.
According to TipRanks, Dray is a 5-star analyst with an average return of 9.8% and a 52.50% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as 3M, Wesco International, and Enerpac Tool Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wesco International with a $167.50 average price target, implying a 15.80% upside from current levels. In a report released on September 8, KeyBanc also maintained a Buy rating on the stock with a $165.00 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 revenue of $5.48 billion and a net profit of $220.71 million. In comparison, last year the company earned a revenue of $4.6 billion and had a net profit of $119.2 million
Based on the recent corporate insider activity of 47 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. 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.
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