WESCO International (NYSE:WCC) PT Raised to $205.00 at KeyCorp

WESCO International (NYSE:WCC) had its price objective lifted by stock analysts at KeyCorp from $190.00 to $205.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 22.24% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada reduced their target price on WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a report on Friday. Robert W. Baird reduced their target price on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their target price on WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Finally, Oppenheimer raised their target price on WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $188.67.

WESCO International Price Performance

WESCO International stock opened at $167.70 on Friday. The business’s 50-day simple moving average is $161.27 and its 200 day simple moving average is $159.76. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.17 and a beta of 2.07. WESCO International has a 12-month low of $121.90 and a 12-month high of $195.43. The company has a quick ratio of 1.42, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the business earned $3.75 EPS. WESCO International’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts anticipate that WESCO International will post 14.14 earnings per share for the current year.

Insider Transactions at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WCC. Rise Advisors LLC acquired a new position in shares of WESCO International during the 1st quarter worth approximately $26,000. KB Financial Partners LLC increased its position in shares of WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of WESCO International during the 4th quarter worth approximately $48,000. GAMMA Investing LLC acquired a new position in shares of WESCO International during the 4th quarter worth approximately $56,000. Finally, Richelieu Gestion SA acquired a new position in shares of WESCO International during the 4th quarter worth approximately $122,000. Institutional investors and hedge funds 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).