WESCO International (NYSE:WCC) PT Raised to $190.00 at KeyCorp

WESCO International (NYSE:WCC) had its target price raised by stock analysts at KeyCorp from $165.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 17.60% from the stock’s previous close.

WCC has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Royal Bank of Canada cut shares of WESCO International from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $202.00 to $173.00 in a research note on Tuesday, February 13th. Robert W. Baird dropped their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Oppenheimer lifted their target price on shares of WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, WESCO International has a consensus rating of “Moderate Buy” and a consensus price target of $184.67.

WESCO International Trading Down 2.4 %

Shares of WCC opened at $161.56 on Thursday. The company has a current ratio of 2.48, a quick ratio of 1.42 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average is $162.51 and its two-hundred day moving average is $158.28. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The firm has a market capitalization of $8.23 billion, a P/E ratio of 11.93, a PEG ratio of 1.17 and a beta of 2.06.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.86 by ($1.21). WESCO International had a return on equity of 17.01% and a net margin of 3.42%. The business had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the business earned $4.13 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, research analysts predict that WESCO International will post 14.23 earnings per share for the current fiscal year.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other WESCO International news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

Several hedge funds and other institutional investors have recently made changes to their positions in WCC. Lyrical Asset Management LP lifted its holdings in shares of WESCO International by 2,583.9% during the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after acquiring an additional 736,616 shares in the last quarter. River Road Asset Management LLC acquired a new position in shares of WESCO International during the 4th quarter valued at $79,404,000. Eagle Asset Management Inc. lifted its holdings in shares of WESCO International by 29.4% during the 4th quarter. Eagle Asset Management Inc. now owns 190,100 shares of the technology company’s stock valued at $23,711,000 after acquiring an additional 43,238 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of WESCO International during the 3rd quarter valued at $3,883,000. Finally, State of Tennessee Treasury Department acquired a new position in shares of WESCO International during the 2nd quarter valued at $4,078,000. Institutional investors and hedge funds 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).