Royal Bank of Canada Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its price objective boosted by Royal Bank of Canada from $212.00 to $213.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 12.49% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Oppenheimer increased their target price on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp raised their price target on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Robert W. Baird lifted their price target on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $217.63.

WESCO International Trading Up 0.5 %

Shares of WCC stock traded up $0.93 during trading hours on Wednesday, hitting $189.35. 328,301 shares of the company were exchanged, compared to its average volume of 660,014. The firm has a fifty day moving average of $187.50 and a 200 day moving average of $179.56. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a 1 year low of $132.37 and a 1 year high of $216.17. The firm has a market cap of $9.28 billion, a PE ratio of 15.18, a PEG ratio of 1.34 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.19% and a net margin of 3.19%. Analysts expect that WESCO International will post 12.3 earnings per share for the current year.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in WESCO International in the 3rd quarter valued at about $28,000. Greenleaf Trust increased 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 purchasing an additional 111 shares during the period. Highland Capital Management LLC bought a new stake in shares of WESCO International during the third quarter valued at approximately $221,000. Farmers & Merchants Investments Inc. boosted its position in shares of WESCO International by 1.5% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after buying an additional 2,923 shares during the period. Finally, EMC Capital Management increased its position in WESCO International by 580.8% in the 3rd quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock valued at $2,703,000 after acquiring an additional 13,730 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).