WESCO International (NYSE:WCC) Upgraded by StockNews.com to “Buy” Rating

WESCO International (NYSE:WCC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research analysts have also issued reports on WCC. Oppenheimer boosted their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird increased their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $215.88.

WESCO International Stock Up 2.2 %

WESCO International stock opened at $193.81 on Friday. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.27 and a beta of 2.02. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $194.65 and a two-hundred day moving average of $176.34. WESCO International has a twelve month low of $132.37 and a twelve month high of $216.17.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $4.49 earnings per share. As a group, research analysts expect that WESCO International will post 12.3 earnings per share for the current year.

Insider Activity

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the transaction, the chief financial officer now directly owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock worth $5,567,454 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in WCC. Pacer Advisors Inc. increased its position in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of WESCO International during the 2nd quarter worth about $52,782,000. Thompson Siegel & Walmsley LLC grew its holdings in shares of WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after buying an additional 199,975 shares in the last quarter. Geode Capital Management LLC raised its position in shares of WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after buying an additional 22,080 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of WESCO International by 142.8% during the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock valued at $5,050,000 after buying an additional 17,682 shares during the period. 93.76% of the stock is owned by institutional investors and hedge funds.

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).