WESCO International (NYSE:WCC) Given New $225.00 Price Target at KeyCorp

WESCO International (NYSE:WCC) had its price target lifted by stock analysts at KeyCorp from $195.00 to $225.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 17.21% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Stephens reissued an “overweight” rating and set a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. 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. Royal Bank of Canada increased their target price on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Friday, September 27th. Loop Capital upped their price objective 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. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.43.

WESCO International Price Performance

Shares of NYSE WCC opened at $191.97 on Friday. The firm has a 50-day simple moving average of $167.69 and a 200-day simple moving average of $167.27. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.48 and a beta of 2.03. WESCO International has a 52 week low of $125.05 and a 52 week high of $195.99.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the firm posted $4.49 earnings per share. WESCO International’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that WESCO International will post 12.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 approximately $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. raised its stake in WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of WESCO International during the third quarter worth $28,000. GAMMA Investing LLC raised its position in WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of WESCO International in the second quarter valued at about $152,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).