Stephens Issues Positive Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its target price increased by research analysts at Stephens from $190.00 to $205.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Stephens’ target price would indicate a potential downside of 3.58% from the stock’s current price.

Several other equities analysts also recently commented on WCC. Robert W. Baird upped their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp raised their price target on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their target price on shares of WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $208.86.

WESCO International Stock Up 13.2 %

NYSE WCC opened at $212.61 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a 52 week low of $132.37 and a 52 week high of $213.29. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.52 and a beta of 2.01. The company has a fifty day moving average of $169.02 and a two-hundred day moving average of $168.12.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.49 earnings per share. On average, analysts predict that WESCO International will post 12.18 earnings per share for the current year.

Insider Activity

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. This trade 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 at the SEC website. In related news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several 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 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 acquiring an additional 69 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of WESCO International during the third quarter worth about $28,000. GAMMA Investing LLC increased its holdings in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its position in WESCO International by 18.3% during 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 period. Finally, Innealta Capital LLC purchased a new stake in WESCO International in the second quarter valued at $152,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).