KeyCorp Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCCFree Report) had its target price increased by KeyCorp from $225.00 to $245.00 in a research note published on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on WCC. Oppenheimer raised their target price on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Loop Capital raised their target price 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. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group raised their price target on shares of WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $215.88.

View Our Latest Analysis on WESCO International

WESCO International Stock Down 1.7 %

Shares of NYSE:WCC opened at $203.17 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average price is $190.98 and its 200-day moving average price is $174.22. The stock has a market capitalization of $9.96 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.68 and a beta of 2.01. WESCO International has a 12-month low of $132.37 and a 12-month high of $216.17.

WESCO International (NYSE:WCCGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the business posted $4.49 earnings per share. WESCO International’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that WESCO International will post 12.3 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, December 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Insiders Place Their Bets

In other WESCO International news, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the sale, the chief financial officer now owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of WESCO International stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total transaction of $582,010.17. Following the transaction, the executive vice president now owns 35,063 shares in the company, valued at $7,213,510.99. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,586 shares of company stock valued at $6,565,762. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of WESCO International by 1.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock valued at $728,000 after buying an additional 71 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of WESCO International by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock valued at $3,881,000 after buying an additional 85 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of WESCO International by 4.8% during the 3rd quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock valued at $403,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

About WESCO International

(Get Free Report)

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).

Further Reading

Analyst Recommendations for WESCO International (NYSE:WCC)

Receive News & Ratings for WESCO International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International and related companies with MarketBeat.com's FREE daily email newsletter.