WESCO International (NYSE:WCC) Price Target Increased to $200.00 by Analysts at Oppenheimer

WESCO International (NYSE:WCC) had its target price boosted by analysts at Oppenheimer from $190.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 19.26% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Royal Bank of Canada cut WESCO International from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $202.00 to $173.00 in a research note on Tuesday, February 13th. Robert W. Baird decreased their price target on 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 WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, KeyCorp increased their price target on WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, WESCO International presently has an average rating of “Moderate Buy” and an average price target of $188.67.

WESCO International Price Performance

WESCO International stock opened at $167.70 on Friday. WESCO International has a 52 week low of $121.90 and a 52 week high of $195.43. The stock has a fifty day moving average of $161.27 and a 200-day moving average of $159.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. The stock has a market capitalization of $8.54 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company earned $3.75 EPS. WESCO International’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that WESCO International will post 14.14 earnings per share for the current fiscal year.

Insider Activity at WESCO International

In related news, EVP Nelson John Squires III sold 3,490 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 $10,333,150. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WESCO International

A number of hedge funds have recently added to or reduced their stakes in WCC. Lyrical Asset Management LP grew its stake in WESCO International by 2,583.9% in the fourth 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 during the period. River Road Asset Management LLC purchased a new position in shares of WESCO International during the fourth quarter valued at approximately $79,404,000. Handelsinvest Investeringsforvaltning purchased a new position in shares of WESCO International during the third quarter valued at approximately $3,883,000. Hosking Partners LLP boosted its position in shares of WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after buying an additional 25,864 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of WESCO International during the fourth quarter valued at approximately $3,177,000. 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).