WESCO International (NYSE:WCC) Price Target Raised to $223.00

WESCO International (NYSE:WCC) had its price objective raised by investment analysts at Robert W. Baird from $215.00 to $223.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 16.05% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Stephens reiterated an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. KeyCorp lowered their target price on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.14.

WESCO International Stock Up 8.1 %

Shares of NYSE WCC opened at $192.16 on Friday. The stock has a market cap of $9.45 billion, a PE ratio of 14.92, a P/E/G ratio of 1.48 and a beta of 2.03. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. WESCO International has a 12-month low of $125.05 and a 12-month high of $195.99. The company has a 50-day moving average of $167.69 and a 200 day moving average of $167.27.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the business earned $4.49 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that WESCO International will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

Institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after buying an additional 69 shares during the last quarter. UMB Bank n.a. lifted its stake in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares during the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Greenleaf Trust increased its stake in WESCO International by 4.8% in the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock valued at $403,000 after purchasing an additional 111 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in WESCO International during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

About WESCO International

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).