WESCO International (NYSE:WCC) Price Target Raised to $190.00

WESCO International (NYSE:WCC) had its price objective hoisted by equities research analysts at KeyCorp from $165.00 to $190.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would suggest a potential upside of 13.85% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Oppenheimer boosted their price target on shares of WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Robert W. Baird dropped their price target on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada downgraded shares of WESCO International from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $202.00 to $173.00 in a research note on Tuesday, February 13th. Finally, StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.67.

WESCO International Trading Down 3.4 %

WCC opened at $166.89 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The company’s 50 day simple moving average is $163.18 and its two-hundred day simple moving average is $158.13. WESCO International has a 1-year low of $121.90 and a 1-year high of $195.43. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.21 and a beta of 2.06.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.86 by ($1.21). The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.59 billion. WESCO International had a return on equity of 17.01% and a net margin of 3.42%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.13 EPS. Analysts expect that WESCO International will post 14.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Cameron sold 5,352 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other WESCO International news, EVP James Cameron sold 5,352 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at $10,333,150. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds have recently made changes to their positions in WCC. Lyrical Asset Management LP boosted its holdings in shares of WESCO International by 2,583.9% in the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after buying an additional 736,616 shares during the period. Geode Capital Management LLC boosted its stake in WESCO International by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 615,883 shares of the technology company’s stock valued at $95,179,000 after purchasing an additional 22,340 shares during the period. River Road Asset Management LLC acquired a new position in WESCO International during the 4th quarter valued at about $79,404,000. Bank of New York Mellon Corp boosted its stake in WESCO International by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company’s stock valued at $60,009,000 after purchasing an additional 4,187 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake in WESCO International by 0.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after purchasing an additional 790 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).