WESCO International (NYSE:WCC) Stock Price Expected to Rise, Oppenheimer Analyst Says

WESCO International (NYSE:WCC) had its target price upped by Oppenheimer from $205.00 to $225.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. KeyCorp boosted their target price on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird boosted their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Loop Capital boosted their target price on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $206.71.

WESCO International Trading Down 1.9 %

WCC opened at $184.61 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.59 and a beta of 2.01. WESCO International has a 52 week low of $132.37 and a 52 week high of $195.99. The business’s 50 day moving average is $168.15 and its two-hundred day moving average is $167.66. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.49 earnings per share. On average, research analysts predict that WESCO International will post 12.04 EPS for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.89%. WESCO International’s payout ratio is 13.21%.

Insiders Place Their Bets

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. lifted its position in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of WESCO International in the third quarter valued at $28,000. GAMMA Investing LLC increased its stake in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. increased its stake in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in WESCO International in the second quarter valued at $152,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).