Notable Price Action: Time to Reconsider WESCO International, Inc. After Touching 52-Week High?

Notable Price Action: Time to Reconsider WESCO International, Inc. After Touching 52 Week High?

The stock of WESCO International, Inc. (NYSE:WCC) hit a new 52-week high and has $70.32 target or 6.00% above today’s $66.34 share price. The 6 months bullish chart indicates low risk for the $3.23B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $70.32 price target is reached, the company will be worth $193.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 877,332 shares traded hands or 39.61% up from the average. WESCO International, Inc. (NYSE:WCC) has risen 18.23% since April 25, 2016 and is uptrending. It has outperformed by 12.21% the S&P500.

Analysts await WESCO International, Inc. (NYSE:WCC) to report earnings on January, 26. They expect $0.94 EPS, down 8.74% or $0.09 from last year’s $1.03 per share. WCC’s profit will be $45.77 million for 17.64 P/E if the $0.94 EPS becomes a reality. After $1.05 actual EPS reported by WESCO International, Inc. for the previous quarter, Wall Street now forecasts -10.48% negative EPS growth.

WESCO International, Inc. (NYSE:WCC) Ratings Coverage

Out of 13 analysts covering Wesco International Inc. (NYSE:WCC), 4 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 31% are positive. Wesco International Inc. has been the topic of 34 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of WESCO International, Inc. (NYSE:WCC) earned “Neutral” rating by Sterne Agee CRT on Tuesday, March 22. The rating was reinitiated by Credit Suisse with “Outperform” on Friday, June 17. As per Tuesday, September 15, the company rating was initiated by Credit Suisse. The stock of WESCO International, Inc. (NYSE:WCC) earned “Outperform” rating by Oppenheimer on Wednesday, December 16. Oppenheimer maintained WESCO International, Inc. (NYSE:WCC) on Wednesday, October 7 with “Outperform” rating. The firm has “Outperform” rating given on Wednesday, December 16 by RBC Capital Markets. The firm has “Equal Weight” rating by Barclays Capital given on Wednesday, December 16. As per Thursday, May 12, the company rating was maintained by UBS. The rating was initiated by UBS with “Neutral” on Thursday, September 17. The firm earned “Buy” rating on Tuesday, November 1 by Buckingham Research.

According to Zacks Investment Research, “Wesco International, Inc. is a leading provider of electrical products and other industrial MRO supplies and services in North America. The company is also a provider of Integrated Supply services. Their Integrated Supply solutions and outsourcing services fulfill all of a customer’s industrial MRO procurement needs through a highly automated, proprietary electronic procurement and inventory replenishment system.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.36, from 1.36 in 2016Q1. The ratio worsened, as 19 funds sold all WESCO International, Inc. shares owned while 64 reduced positions. 40 funds bought stakes while 73 increased positions. They now own 51.25 million shares or 2.06% less from 52.33 million shares in 2016Q1.
Moreover, Mizuho Trust has 0.02% invested in WESCO International, Inc. (NYSE:WCC) for 117,400 shares. Us Natl Bank De accumulated 0% or 1,655 shares. Aperio Limited Liability accumulated 0.02% or 42,744 shares. Massachusetts Financial Com Ma last reported 460,220 shares in the company. Blackrock holds 0% or 14,266 shares in its portfolio. Moreover, Point72 Asia (Hong Kong) Ltd has 0.02% invested in WESCO International, Inc. (NYSE:WCC) for 300 shares. Janus Mngmt accumulated 5,400 shares or 0% of the stock. Hgk Asset has 10,194 shares for 0.08% of their US portfolio. Teachers Advisors Incorporated has 0.01% invested in the company for 88,826 shares. Barclays Public Ltd Com holds 0% or 9,710 shares in its portfolio. Timessquare Mngmt Llc accumulated 0.28% or 815,240 shares. Rhumbline Advisers owns 33,300 shares or 0.01% of their US portfolio. Moreover, Rbf Cap Limited Liability Co has 0.1% invested in WESCO International, Inc. (NYSE:WCC) for 10,000 shares. D E Shaw Co Incorporated last reported 0.02% of its portfolio in the stock. Dimensional Fund Advsr Lp has invested 0.07% of its portfolio in WESCO International, Inc. (NYSE:WCC).

Insider Transactions: Since September 6, 2016, the stock had 0 insider buys, and 2 sales for $492,017 net activity. Shares for $166,957 were sold by Singleton James Louis. $325,060 worth of WESCO International, Inc. (NYSE:WCC) was sold by Lazzaris Diane on Monday, November 21.

More notable recent WESCO International, Inc. (NYSE:WCC) news were published by: Prnewswire.com which released: “WESCO International, Inc. Names New Chief Financial Officer” on October 17, 2016, also Prnewswire.com with their article: “WESCO International, Inc. Announces Hibbard Retirement” published on October 21, 2016, Prnewswire.com published: “WESCO International, Inc. Announces Its Fourth Quarter 2016 Investor …” on November 02, 2016. More interesting news about WESCO International, Inc. (NYSE:WCC) were released by: Prnewswire.com and their article: “WESCO International, Inc. Announces Redemption of 6.0% Convertible Senior …” published on August 11, 2016 as well as Prnewswire.com‘s news article titled: “WESCO International, Inc. To Announce Third Quarter Earnings on October 27 …” with publication date: September 19, 2016.

WCC Company Profile

WESCO International, Inc., incorporated on September 17, 1993, is a distributor of products and well-known provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Firm is a well-known provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services. The Company’s primary product categories include general electrical and industrial supplies, wire, cable and conduit, data and broadband communications, power distribution equipment, lighting and lighting control systems, control and automation, motors, and safety. The Firm serves over 80,000 clients across the globe through approximately 500 service branches located in North America, with activities in over 10 additional countries and approximately nine distribution centers located in the United States and Canada. It distributes over 1,000,000 products, grouped into six categories, from approximately 25,000 suppliers utilizing an automated, electronic procurement and inventory replenishment system. In addition, it offers a portfolio of capabilities, which includes supply chain management, logistics and transportation, procurement, warehousing and inventory management, as well as kitting, limited assembly of products and system installation.

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