Royal Bank Of Canada Raises WESCO International (NYSE:WCC) Price Target to $262.00

WESCO International (NYSE:WCC) had its price target raised by investment analysts at Royal Bank Of Canada from $222.00 to $262.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 0.89% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $240.00 price target (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Loop Capital boosted their price target on shares of WESCO International from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Barclays began coverage on shares of WESCO International in a research report on Wednesday, October 8th. They issued an “overweight” rating and a $258.00 price target on the stock. Wall Street Zen upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Stephens lowered shares of WESCO International from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.89.

WESCO International Stock Performance

NYSE WCC opened at $259.70 on Friday. The stock has a market cap of $12.64 billion, a P/E ratio of 20.34, a PEG ratio of 1.77 and a beta of 1.79. The company’s 50-day simple moving average is $218.86 and its 200 day simple moving average is $196.23. WESCO International has a twelve month low of $125.21 and a twelve month high of $263.37. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.17. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.91 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.58 earnings per share. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. As a group, research analysts forecast that WESCO International will post 13.3 earnings per share for the current fiscal year.

Insider Activity at WESCO International

In other news, CEO John Engel sold 51,051 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the transaction, the chief executive officer directly owned 475,971 shares in the company, valued at approximately $107,650,361.07. This represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David S. Schulz sold 12,227 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the completion of the transaction, the chief financial officer owned 110,376 shares in the company, valued at $24,853,363.92. This represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 136,131 shares of company stock valued at $30,384,421 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of WESCO International during the 3rd quarter valued at $37,000. Whittier Trust Co. raised its position in shares of 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 acquiring an additional 89 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of 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 acquiring an additional 131 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 104 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of WESCO International by 13.4% during the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after acquiring 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).