WESCO International (NYSE:WCC) Price Target Raised to $96.00


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WESCO International (NYSE:WCC) had its price target upped by stock analysts at KeyCorp from $95.00 to $96.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective suggests a potential upside of 14.00% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on WCC. Raymond James lifted their price target on shares of WESCO International from $80.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 13th. Wells Fargo & Company lifted their price target on shares of WESCO International from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, April 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $76.00.

WESCO International stock opened at $84.21 on Monday. WESCO International has a 12-month low of $21.86 and a 12-month high of $95.19. The stock has a market cap of $4.22 billion, a P/E ratio of 30.51, a PEG ratio of 0.93 and a beta of 2.09. The company has a 50-day moving average price of $87.49 and a 200 day moving average price of $73.38. The company has a current ratio of 2.36, a quick ratio of 1.33 and a debt-to-equity ratio of 1.63.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Tuesday, February 9th. The technology company reported $1.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.10). WESCO International had a return on equity of 8.34% and a net margin of 1.42%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the business posted $1.32 earnings per share. WESCO International’s revenue for the quarter was up 96.7% on a year-over-year basis. As a group, analysts forecast that WESCO International will post 4.85 EPS for the current year.

In related news, EVP Hemant Porwal sold 3,961 shares of WESCO International stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $80.93, for a total value of $320,563.73. Following the completion of the transaction, the executive vice president now owns 2,658 shares in the company, valued at $215,111.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn M. Utter sold 625 shares of WESCO International stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $82.59, for a total transaction of $51,618.75. Following the completion of the transaction, the director now owns 11,263 shares of the company’s stock, valued at approximately $930,211.17. The disclosure for this sale can be found here. Insiders sold 5,961 shares of company stock valued at $491,360 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. grew its holdings in shares of WESCO International by 16.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 176,400 shares of the technology company’s stock valued at $15,264,000 after purchasing an additional 24,872 shares in the last quarter. Harvest Investment Services LLC purchased a new position in WESCO International in the fourth quarter worth approximately $823,000. Steward Partners Investment Advisory LLC lifted its stake in WESCO International by 51.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,274 shares of the technology company’s stock worth $257,000 after acquiring an additional 1,117 shares during the last quarter. Bessemer Group Inc. lifted its stake in WESCO International by 2.1% in the fourth quarter. Bessemer Group Inc. now owns 8,334 shares of the technology company’s stock worth $654,000 after acquiring an additional 168 shares during the last quarter. Finally, McCarthy Asset Management Inc. purchased a new position in WESCO International in the fourth quarter worth approximately $32,000.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics, and supply chain solutions in the United States, Canada, and internationally. It operates in three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).

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Analyst Recommendations for WESCO International (NYSE:WCC)

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