WESCO International (NYSE:WCC) Given New $225.00 Price Target at KeyCorp

WESCO International (NYSE:WCC) had its target price boosted by stock analysts at KeyCorp from $195.00 to $225.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 19.57% from the company’s previous close.

Several other research analysts have also weighed in on WCC. Stephens reissued an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a research report on Friday, September 27th. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Robert W. Baird raised their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Loop Capital raised their price objective on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.71.

WESCO International Stock Performance

WESCO International stock opened at $188.17 on Friday. The business has a 50 day moving average of $168.15 and a 200-day moving average of $167.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.34. WESCO International has a 1 year low of $131.38 and a 1 year high of $195.99. The company has a market capitalization of $9.25 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.59 and a beta of 2.01.

WESCO International (NYSE:WCC) last posted its quarterly earnings data 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 prior year, the business posted $4.49 earnings per share. WESCO International’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts predict that WESCO International will post 12.04 earnings per share for the current year.

Insider Activity

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction that occurred on 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 sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently made changes to their positions in WCC. Russell Investments Group Ltd. grew 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 valued at $12,486,000 after buying an additional 31,200 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of WESCO International by 860.5% in the second quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company’s stock worth $1,963,000 after purchasing an additional 11,092 shares during the period. Redwood Investment Management LLC purchased a new stake in shares of WESCO International in the first quarter worth $639,000. BNP Paribas Financial Markets boosted its stake in WESCO International by 163.5% during the first 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 period. Finally, Fifth Third Wealth Advisors LLC bought a new position in WESCO International in the 2nd quarter worth about $676,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).