Stephens Increases WESCO International (NYSE:WCC) Price Target to $205.00

WESCO International (NYSE:WCC) had its target price boosted by investment analysts at Stephens from $190.00 to $205.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Stephens’ price target points to a potential upside of 11.04% from the company’s current price.

Several other research analysts also recently commented on WCC. Royal Bank of Canada lifted their target price on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday. Robert W. Baird upped 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 raised their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday. Finally, KeyCorp boosted their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday. One investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $208.86.

WESCO International Stock Performance

NYSE:WCC opened at $184.61 on Tuesday. WESCO International has a twelve month low of $132.37 and a twelve month high of $195.99. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $168.15 and its 200 day simple moving average is $167.66. The firm has a market capitalization of $9.08 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.55 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced its quarterly earnings results 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 return on equity of 13.19% and a net margin of 3.19%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the company earned $4.49 EPS. WESCO International’s revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that WESCO International will post 12.12 EPS for the current fiscal year.

Insider Buying and Selling at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, 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 at this link. In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the business’s 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 transaction, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the company’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 transaction, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Pacer Advisors Inc. lifted its position in shares of WESCO International by 23,727.4% during the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after acquiring an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of WESCO International during the second quarter valued at about $52,782,000. Neo Ivy Capital Management purchased a new stake in shares of WESCO International in the second quarter worth about $5,916,000. Russell Investments Group Ltd. increased its holdings in WESCO International by 74.8% during the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 31,200 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of WESCO International by 142.8% in the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after purchasing an additional 17,682 shares during the period. Institutional investors 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).