WESCO International (NYSE:WCC) Given New $199.00 Price Target at Royal Bank of Canada

WESCO International (NYSE:WCC) had its price target lifted by analysts at Royal Bank of Canada from $186.00 to $199.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.29% from the stock’s previous close.

WCC has been the subject of a number of other research reports. Robert W. Baird boosted their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, WESCO International presently has a consensus rating of “Moderate Buy” and an average target price of $206.71.

WESCO International Stock Performance

Shares of NYSE WCC traded down $2.96 during trading hours on Friday, reaching $189.01. 503,772 shares of the stock were exchanged, compared to its average volume of 698,990. The stock’s fifty day simple moving average is $167.69 and its 200 day simple moving average is $167.27. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.48 and a beta of 2.03. WESCO International has a 52 week low of $131.38 and a 52 week high of $195.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the business earned $4.49 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts predict that WESCO International will post 12.04 EPS for the current year.

Insider Activity at WESCO International

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently bought and sold shares of WCC. Pacer Advisors Inc. boosted its stake in shares of WESCO International by 23,727.4% during the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after purchasing an additional 1,582,379 shares in the last quarter. Bank of New York Mellon Corp boosted its position in WESCO International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after buying an additional 8,641 shares during the period. Clearbridge Investments LLC acquired a new stake in WESCO International during the 2nd quarter worth approximately $52,782,000. Farmers & Merchants Investments Inc. grew its holdings in WESCO International by 1.5% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after acquiring an additional 2,923 shares during the last quarter. Finally, Davis Selected Advisers increased its position in WESCO International by 1.5% in the 2nd quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock valued at $30,697,000 after acquiring an additional 2,824 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).