WESCO International (NYSE:WCC) Rating Lowered to “Equal Weight” at Stephens

WESCO International (NYSE:WCC) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $200.00 target price on the technology company’s stock, up from their previous target price of $190.00. Stephens’ price objective indicates a potential downside of 2.76% from the company’s current price.

WCC has been the subject of a number of other research reports. Oppenheimer cut their target price on shares of WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of WESCO International from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, May 27th. Loop Capital cut their target price on shares of WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, KeyCorp boosted their price target on shares of WESCO International from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, June 13th. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.75.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $205.68 on Wednesday. The firm has a market cap of $10.04 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.83. The firm’s 50 day simple moving average is $179.87 and its 200-day simple moving average is $174.02. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 2.15. WESCO International has a one year low of $125.21 and a one year high of $216.17.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.40% and a net margin of 3.30%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 earnings per share. As a group, equities analysts predict that WESCO International will post 13.3 EPS for the current year.

Insider Activity at WESCO International

In related news, EVP Christine Ann Wolf sold 3,106 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the sale, the executive vice president owned 30,181 shares in the company, valued at $5,346,262.34. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. lifted its position in WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock valued at $43,000 after buying an additional 89 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in WESCO International by 43.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after buying an additional 81 shares in the last quarter. Parallel Advisors LLC lifted its position in WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company’s stock valued at $69,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC lifted its position in WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock valued at $74,000 after buying an additional 104 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in WESCO International during the fourth quarter valued at approximately $122,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).