Royal Bank of Canada Increases WESCO International (NYSE:WCC) Price Target to $199.00

WESCO International (NYSE:WCC) had its target price increased by equities researchers at Royal Bank of Canada from $186.00 to $199.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 5.76% from the stock’s current price.

Other research analysts have also issued reports about the stock. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their target price on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday. Stephens reissued an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Loop Capital increased their target price on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Robert W. Baird lifted their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.71.

WESCO International Trading Down 2.0 %

Shares of WESCO International stock opened at $188.17 on Friday. WESCO International has a twelve month low of $131.38 and a twelve month high of $195.99. The firm’s 50-day moving average price is $168.15 and its 200 day moving average price is $167.47. The company has a current ratio of 2.21, a quick ratio of 1.34 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $9.25 billion, a PE ratio of 15.07, a P/E/G ratio of 1.59 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the business earned $4.49 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that WESCO International will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling at WESCO International

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 31,200 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of WESCO International by 860.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company’s stock worth $1,963,000 after buying an additional 11,092 shares during the last quarter. Redwood Investment Management LLC purchased a new position in shares of WESCO International in the 1st quarter worth $639,000. BNP Paribas Financial Markets boosted its holdings in WESCO International by 163.5% in the first quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock valued at $4,151,000 after acquiring an additional 15,037 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in WESCO International during the second quarter worth about $676,000. Institutional investors and hedge funds own 93.76% 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).