WESCO International (NYSE:WCC) PT Raised to $190.00 at KeyCorp

WESCO International (NYSE:WCC) had its target price lifted by investment analysts at KeyCorp from $165.00 to $190.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price points to a potential upside of 17.60% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Royal Bank of Canada downgraded shares of WESCO International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $202.00 to $173.00 in a research note on Tuesday, February 13th. Oppenheimer increased their price target on shares of WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Robert W. Baird decreased their price target on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, WESCO International presently has an average rating of “Moderate Buy” and an average target price of $184.67.

WESCO International Stock Performance

NYSE WCC opened at $161.56 on Thursday. The company has a 50-day simple moving average of $162.51 and a two-hundred day simple moving average of $158.28. The company has a quick ratio of 1.42, a current ratio of 2.48 and a debt-to-equity ratio of 1.06. WESCO International has a 12-month low of $121.90 and a 12-month high of $195.43. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.17 and a beta of 2.06.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $2.65 EPS for the quarter, missing the consensus estimate of $3.86 by ($1.21). The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.59 billion. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $4.13 earnings per share. On average, equities analysts forecast that WESCO International will post 14.23 EPS for the current year.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were 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 $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 54,385 shares in the company, valued at $10,333,150. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James Cameron sold 5,352 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Lyrical Asset Management LP boosted its holdings in WESCO International by 2,583.9% in the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares during the last quarter. River Road Asset Management LLC purchased a new stake in shares of WESCO International in the fourth quarter worth about $79,404,000. Eagle Asset Management Inc. lifted its position in shares of WESCO International by 29.4% in the fourth quarter. Eagle Asset Management Inc. now owns 190,100 shares of the technology company’s stock worth $23,711,000 after buying an additional 43,238 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of WESCO International in the third quarter worth about $3,883,000. Finally, State of Tennessee Treasury Department purchased a new stake in shares of WESCO International in the second quarter worth about $4,078,000. 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).