KeyCorp Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its target price boosted by analysts at KeyCorp from $258.00 to $300.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price would indicate a potential upside of 15.52% from the stock’s current price.

A number of other research firms have also issued reports on WCC. Oppenheimer boosted their price target on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Barclays assumed coverage on shares of WESCO International in a report on Wednesday, October 8th. They set an “overweight” rating and a $258.00 price target on the stock. Stephens lowered shares of WESCO International from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Loop Capital increased their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, WESCO International presently has an average rating of “Moderate Buy” and a consensus price target of $248.89.

WESCO International Trading Up 2.9%

WESCO International stock opened at $259.70 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $218.86 and a two-hundred day moving average price of $196.23. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.77 and a beta of 1.79. WESCO International has a 52-week low of $125.21 and a 52-week high of $263.37.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.17. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $5.91 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.58 EPS. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Sell-side analysts expect that WESCO International will post 13.3 earnings per share for the current year.

Insider Transactions at WESCO International

In other WESCO International 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 SEC, which can be accessed through this hyperlink. Also, EVP Nelson John Squires III sold 13,780 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the completion of the sale, the executive vice president owned 48,625 shares of the company’s stock, valued at $10,677,563.75. The trade was a 22.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 136,131 shares of company stock worth $30,384,421. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in shares of WESCO International in the 3rd quarter valued at about $37,000. First Horizon Advisors Inc. boosted its stake in shares of WESCO International by 129.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock valued at $43,000 after purchasing an additional 131 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of WESCO International by 27.7% in the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock valued at $74,000 after purchasing an additional 104 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 93.75% 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).