Royal Bank of Canada Raises WESCO International (NYSE:WCC) Price Target to $213.00

WESCO International (NYSE:WCC) had its price objective raised by stock analysts at Royal Bank of Canada from $212.00 to $213.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 12.49% from the company’s previous close.

WCC has been the topic of several other research reports. Stephens upped their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group upped their target price on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. 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. Finally, KeyCorp raised their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $217.63.

WESCO International Price Performance

Shares of WCC traded up $0.93 during midday trading on Wednesday, reaching $189.35. The stock had a trading volume of 328,301 shares, compared to its average volume of 660,014. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The company has a market capitalization of $9.28 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.34 and a beta of 2.01. The firm’s 50 day moving average price is $187.50 and its 200-day moving average price is $179.56. WESCO International has a 52 week low of $132.37 and a 52 week high of $216.17.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. On average, analysts forecast that WESCO International will post 12.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WESCO International

A number of hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in WESCO International during the third quarter worth $28,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC lifted its holdings in WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in WESCO International in the 4th quarter worth approximately $122,000. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in WESCO International during the fourth quarter worth approximately $204,000. 93.76% of the stock is owned by institutional investors and hedge funds.

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).