Jefferies Financial Group Issues Positive Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its target price lifted by Jefferies Financial Group from $225.00 to $245.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 17.40% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. KeyCorp lifted their price target on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Loop Capital increased their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price target on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, WESCO International currently has an average rating of “Buy” and an average price target of $213.38.

WESCO International Stock Down 1.1 %

WCC stock opened at $208.69 on Friday. The company has a market capitalization of $10.23 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.72 and a beta of 2.01. WESCO International has a 12 month low of $132.37 and a 12 month high of $216.17. The firm’s fifty day simple moving average is $189.57 and its 200-day simple moving average is $174.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.49 earnings per share. As a group, equities research analysts forecast that WESCO International will post 12.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO David S. Schulz sold 14,938 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the sale, the chief financial officer now owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William Clayton Geary sold 2,829 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total transaction of $582,010.17. Following the completion of the transaction, the executive vice president now owns 35,063 shares in the company, valued at $7,213,510.99. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,586 shares of company stock worth $6,565,762. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCC. Pacer Advisors Inc. lifted its stake in shares of WESCO International by 23,727.4% in the 2nd 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 during the last quarter. Geode Capital Management LLC lifted its position in WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after buying an additional 22,080 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in WESCO International by 2.1% during the second 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 shares of WESCO International during the second quarter valued at about $52,782,000. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of WESCO International by 341.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after acquiring an additional 199,975 shares during the period. Institutional investors and hedge funds 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).