WESCO International (NYSE:WCC) Given New $199.00 Price Target at Royal Bank of Canada

WESCO International (NYSE:WCC) had its target price hoisted by Royal Bank of Canada from $186.00 to $199.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 5.29% from the company’s current price.

WCC has been the topic of a number of other reports. Oppenheimer boosted their price objective on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Loop Capital boosted their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, 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 report on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.71.

WESCO International Trading Down 1.5 %

WCC stock traded down $2.96 during trading on Friday, hitting $189.01. The company had a trading volume of 503,772 shares, compared to its average volume of 698,990. The stock has a market cap of $9.29 billion, a PE ratio of 14.67, a PEG ratio of 1.48 and a beta of 2.03. The business has a 50-day moving average of $167.69 and a 200-day moving average of $167.27. 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 one year low of $131.38 and a one year high of $195.99.

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

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in WESCO International by 163.5% in the 1st quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock valued at $4,151,000 after buying an additional 15,037 shares during the last quarter. Hosking Partners LLP increased its position in shares of WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after acquiring an additional 25,864 shares during the last quarter. Quent Capital LLC grew its holdings in WESCO International by 9.9% during the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock valued at $634,000 after purchasing an additional 333 shares during the period. TimesSquare Capital Management LLC purchased a new stake in WESCO International in the first quarter worth $463,000. Finally, Russell Investments Group Ltd. raised its stake in shares of WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after buying an additional 31,200 shares during the period. 93.76% of the stock is owned by institutional investors.

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).