Big changes are happening at WESCO International, Inc. (NYSE:WCC), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -4.61% or (-2.06 points) to $42.6 from its previous close of $44.66. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 219425 contracts so far this session. WCC shares had a relatively better volume day versus average trading capacity of 571.31 thousand shares, but with a 35.77 million float and a -2.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WCC stock indicates that the average analyst price target is $56.29 per share. This means the stock has a potential increase of 32.14% from where the WCC share price has been trading recently which is between $44.19 and $45.81. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $48.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “WESCO International, Inc.’s (NYSE:WCC) Earnings Grew 29%, Did It Beat Long-Term Trend?” and dated August 12, 2019.
During the recent trading session for WESCO International, Inc. (NYSE:WCC), the company witnessed their stock drop by $-3.2 over a week and tumble down $-6.45 from the price 20 days ago. When compared to their established 52-week high of $63.2, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $42.32 stood for a -32.59% since 08/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.72 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for WESCO International, Inc., the two-week RSI stands at 29.52. This figure suggests that WCC stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current WCC readings is similarly very revealing as it has a stochastic reading of 9.55% at this stage. This figure means that WCC share price today is being overbought.
Technical chart claims that WESCO International, Inc. (WCC) would settle between $45.58/share to $46.51/share level. However, if the stock price goes below the $43.96 mark, then the market for WESCO International, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $43.27 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Northcoast lowered their recommendation on shares of WCC from Buy to Neutral in their opinion released on August 02. Buckingham Research analysts have lowered their rating of WESCO International, Inc. (NYSE:WCC) stock from Buy to Neutral in a separate flash note issued to investors on August 02. Analysts at William Blair lowered the stock to a Mkt Perform call from its previous Outperform recommendation, in a research note that dated back to May 07.
WCC equity has an average rating of 2.36, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated WESCO International, Inc. (NYSE:WCC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WCC stock price is currently trading at 7.85X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.28 while for the average stock in the same group, the multiple is 4.19. WESCO International, Inc. current P/E ratio of 10.69 means it is trading at a discount against its industry’s 25.23. In the past 5 years, this ratio for the stock has been fluctuating between 10.16 and 31.66.
WESCO International, Inc. (WCC)’s current-quarter revenues are projected to climb by nearly 4.61% to hit $2.16 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 2.93% from $8.18 billion to a noteworthy $8.42 billion. At the other end of the current quarter income statement, WESCO International, Inc. is expected to see its adjusted earnings surge by roughly 4.26% to hit $1.47 per share. For the fiscal year, WCC’s earnings are projected to climb by roughly 8.71% to hit $5.24 per share.