Royal Bank of Canada Increases WESCO International (NYSE:WCC) Price Target to $187.00

by · The Markets Daily

WESCO International (NYSE:WCC – Get Free Report) had its price target increased by equities research analysts at Royal Bank of Canada from $171.00 to $187.00 in a research report issued on Friday, 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 8.99% from the stock’s previous close.

WCC has been the topic of several other research reports. Robert W. Baird reduced their price target on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Loop Capital increased their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. KeyCorp reduced their price target on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and an average target price of $189.86.

View Our Latest Report on WESCO International

WESCO International Stock Performance

NYSE:WCC opened at $171.58 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The firm has a 50-day moving average of $161.63 and a two-hundred day moving average of $166.36. The stock has a market cap of $8.72 billion, a P/E ratio of 14.29, a PEG ratio of 1.38 and a beta of 2.03. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43.

WESCO International (NYSE:WCC – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the company earned $3.71 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, research analysts expect that WESCO International will post 12.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WESCO International

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WCC. Pacer Advisors Inc. increased its stake in shares of WESCO International by 23,727.4% during the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after acquiring an additional 1,582,379 shares during the period. Lyrical Asset Management LP boosted its holdings in WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after buying an additional 736,616 shares in the last quarter. Clearbridge Investments LLC bought a new stake in WESCO International during the second quarter worth approximately $52,782,000. Neo Ivy Capital Management bought a new stake in WESCO International during the second quarter worth approximately $5,916,000. Finally, Russell Investments Group Ltd. boosted its holdings in WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after buying an additional 31,200 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Company Profile

(Get Free Report)

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).

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