WESCO International (NYSE:WCC) Raised to “Buy” at Wall Street Zen

WESCO International (NYSE:WCC) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Friday.

WCC has been the subject of a number of other reports. KeyCorp lifted their price objective on shares of WESCO International from $240.00 to $258.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Loop Capital lifted their price objective on shares of WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of WESCO International in a research note on Saturday, September 27th. Finally, Oppenheimer lifted their price objective on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $232.67.

WESCO International Stock Performance

WCC opened at $215.96 on Friday. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.66 and a beta of 1.79. The company has a fifty day moving average of $213.75 and a 200 day moving average of $186.21. WESCO International has a fifty-two week low of $125.21 and a fifty-two week high of $228.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the company posted $3.21 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that WESCO International will post 13.3 earnings per share for the current fiscal year.

Insider Transactions at WESCO International

In other news, EVP Hemant Porwal sold 4,656 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $224.84, for a total value of $1,046,855.04. Following the completion of the sale, the executive vice president owned 19,141 shares in the company, valued at approximately $4,303,662.44. This trade represents a 19.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the sale, the executive vice president owned 45,706 shares of the company’s stock, valued at $10,350,123.70. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,131 shares of company stock worth $30,384,421. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WESCO International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its holdings in WESCO International by 129.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. Whittier Trust Co. lifted its holdings in WESCO International by 46.8% during the 1st 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. Parallel Advisors LLC lifted its holdings in WESCO International by 21.1% during the 1st 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 holdings in WESCO International by 27.7% during the 1st 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, EverSource Wealth Advisors LLC lifted its holdings in WESCO International by 95.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company’s stock valued at $139,000 after buying an additional 368 shares in the last quarter. Institutional investors own 93.75% 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).