Royal Bank of Canada Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its target price raised by investment analysts at Royal Bank of Canada from $212.00 to $213.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 10.00% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Stephens boosted their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Oppenheimer upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, KeyCorp upped their target price on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, WESCO International has a consensus rating of “Moderate Buy” and an average price target of $217.63.

WESCO International Trading Up 0.2 %

Shares of WESCO International stock opened at $193.63 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a 12-month low of $138.67 and a 12-month high of $216.17. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.34 and a beta of 2.01. The firm’s 50-day moving average price is $186.84 and its two-hundred day moving average price is $179.75.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.19% and a net margin of 3.19%. On average, analysts forecast that WESCO International will post 12.3 earnings per share for the current fiscal year.

Institutional Trading of WESCO International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in WESCO International by 5.5% in the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock valued at $216,000 after acquiring an additional 62 shares during the period. V Square Quantitative Management LLC grew its position in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in WESCO International by 1.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock valued at $728,000 after purchasing an additional 71 shares in the last quarter. GAMMA Investing LLC raised its holdings in WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after buying an additional 75 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of WESCO International by 43.5% in 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. 93.76% of the stock is owned by 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).