WESCO International (NYSE:WCC) Rating Increased to Buy at StockNews.com

WESCO International (NYSE:WCC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Other research analysts have also recently issued research reports about the company. Robert W. Baird dropped their price target on WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. KeyCorp raised their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada dropped their price target on WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Oppenheimer raised their price target on WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.67.

WESCO International Price Performance

WESCO International stock opened at $167.70 on Friday. WESCO International has a one year low of $121.90 and a one year high of $195.43. 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 business has a fifty day moving average of $161.27 and a two-hundred day moving average of $159.76. The company has a market cap 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 released its earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the business posted $3.75 EPS. WESCO International’s revenue was down 3.1% compared to the same quarter last year. As a group, analysts predict that WESCO International will post 14.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction dated 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 directly owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated 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 transaction, the executive vice president now directly owns 33,595 shares in the company, valued at $5,253,922.05. The disclosure for this sale can be found here. 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 modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of WESCO International in the 4th quarter valued at about $2,256,000. Amalgamated Bank lifted its stake in shares of WESCO International by 16.1% in the 3rd quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock valued at $4,922,000 after purchasing an additional 4,733 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of WESCO International by 2.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock valued at $7,908,000 after purchasing an additional 1,390 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of WESCO International by 119.7% in the 3rd quarter. Van ECK Associates Corp now owns 15,871 shares of the technology company’s stock valued at $2,283,000 after purchasing an additional 8,647 shares in the last quarter. Finally, Hosking Partners LLP lifted its stake in shares of WESCO International by 20.1% in the 3rd quarter. Hosking Partners LLP now owns 40,424 shares of the technology company’s stock valued at $5,814,000 after purchasing an additional 6,752 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

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).