Stephens Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its price target boosted by Stephens from $190.00 to $205.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Stephens’ price target indicates a potential upside of 11.04% from the stock’s previous close.

WCC has been the subject of a number of other reports. Oppenheimer lifted their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird raised their price target on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp upped their price target on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Loop Capital lifted their price objective on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, WESCO International has an average rating of “Buy” and an average price target of $208.86.

WESCO International Trading Down 1.9 %

WCC stock opened at $184.61 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The firm has a market cap of $9.08 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.55 and a beta of 2.01. WESCO International has a 1-year low of $132.37 and a 1-year high of $195.99. The business’s 50 day moving average is $168.15 and its 200-day moving average is $167.66.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate 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 for 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. WESCO International’s revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that WESCO International will post 12.12 earnings per share for the current fiscal year.

Insider Activity at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction that occurred 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 $4,632,806.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCC. Whittier Trust Co. of Nevada Inc. lifted its position in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. UMB Bank n.a. increased its position in WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after buying an additional 98 shares during the period. GAMMA Investing LLC raised its stake in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Greenleaf Trust boosted its stake in shares of WESCO International by 4.8% in the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock valued at $403,000 after buying an additional 111 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in shares of WESCO International in the third quarter worth $28,000. 93.76% of the stock is owned by institutional investors.

About WESCO International

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).