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

WESCO International (NYSE:WCC) had its target price hoisted by equities research analysts at Stephens from $190.00 to $205.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Stephens’ price target points to a potential downside of 3.58% from the company’s current price.

A number of other research firms also recently weighed in on WCC. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a report on Monday. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. KeyCorp upped their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Robert W. Baird lifted their price target on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $208.86.

WESCO International Stock Performance

Shares of NYSE WCC opened at $212.61 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $169.02 and its 200-day moving average price is $168.12. WESCO International has a 52-week low of $132.37 and a 52-week high of $213.29. The company has a market cap of $10.45 billion, a PE ratio of 17.02, a PEG ratio of 1.52 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.49 EPS. As a group, analysts anticipate that WESCO International will post 12.18 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of WESCO International in the third quarter valued at $28,000. GAMMA Investing LLC increased its position in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. raised its stake in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in WESCO International during the second quarter valued at $152,000. Hedge funds and other institutional investors own 93.76% 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).