KeyCorp Boosts WESCO International (NYSE:WCC) Price Target to $205.00

WESCO International (NYSE:WCC) had its target price raised by KeyCorp from $190.00 to $205.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other brokerages also recently weighed in on WCC. JPMorgan Chase & Co. cut their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research report on Friday, March 15th. Robert W. Baird reduced their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Royal Bank of Canada dropped their price objective on WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a research note on Friday. Finally, Oppenheimer boosted their target price on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, WESCO International has a consensus rating of Moderate Buy and an average price target of $188.67.

WESCO International Stock Up 1.6 %

Shares of NYSE:WCC opened at $167.70 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.42. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.19 and a beta of 2.07. The company has a 50 day moving average of $161.27 and a 200-day moving average of $159.91. WESCO International has a one year low of $121.90 and a one year high of $195.43.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the firm earned $3.75 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that WESCO International will post 14.12 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio is 13.74%.

Insider Activity

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

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC raised its stake in shares of WESCO International by 9.9% during the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after purchasing an additional 333 shares in the last quarter. Hosking Partners LLP increased its holdings in WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after buying an additional 25,864 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 worth $4,151,000 after acquiring an additional 15,037 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in WESCO International by 14.6% in the first quarter. Peregrine Capital Management LLC now owns 10,218 shares of the technology company’s stock valued at $1,750,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its position in shares of WESCO International by 43.9% in the 1st quarter. Hennessy Advisors Inc. now owns 26,900 shares of the technology company’s stock valued at $4,607,000 after acquiring an additional 8,200 shares during the period. 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).