Analysts Set WESCO International, Inc. (NYSE:WCC) Target Price at $215.88

Shares of WESCO International, Inc. (NYSE:WCC) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $215.88.

Several research analysts have recently commented on the stock. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada upped their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. KeyCorp raised their price target on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Jefferies Financial Group upped their price objective on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th.

WESCO International Stock Up 3.7 %

NYSE:WCC opened at $198.72 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.37 and a beta of 2.02. WESCO International has a one year low of $132.37 and a one year high of $216.17. The stock has a 50-day simple moving average of $193.62 and a 200 day simple moving average of $177.52.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share 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 business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the business earned $4.49 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that WESCO International will post 12.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. WESCO International’s payout ratio is currently 13.21%.

Insider Buying and Selling at WESCO International

In related news, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the transaction, the chief financial officer now owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % 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, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 $10,377,990. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,767 shares of company stock valued at $5,567,454. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of WESCO International in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC grew its position in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after buying an additional 75 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of WESCO International by 18.3% in the third 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. Highland Capital Management LLC acquired a new stake in shares of WESCO International during the 3rd quarter valued at $221,000. Finally, Innealta Capital LLC boosted its stake in shares of WESCO International by 68.0% during the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after acquiring an additional 650 shares in the last quarter. 93.76% of the stock is currently 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).