WESCO International (NYSE:WCC) PT Lowered to $172.00

WESCO International (NYSE:WCC) had its price objective decreased by equities research analysts at Royal Bank of Canada from $176.00 to $172.00 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 2.56% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Oppenheimer increased their price objective on shares of WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp upped their price target on shares of WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Robert W. Baird dropped their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. decreased their target price on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.67.

WESCO International Trading Up 1.6 %

Shares of NYSE:WCC traded up $2.62 during trading on Friday, reaching $167.70. The company’s stock had a trading volume of 754,877 shares, compared to its average volume of 609,629. WESCO International has a 12 month low of $121.90 and a 12 month high of $195.43. The company has a current ratio of 2.48, a quick ratio of 1.42 and a debt-to-equity ratio of 1.06. The firm’s 50 day simple moving average is $160.82 and its two-hundred day simple moving average is $159.55. The stock has a market capitalization of $8.54 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.09 and a beta of 2.07.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a return on equity of 17.01% and a net margin of 3.42%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $3.75 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts predict that WESCO International will post 14.14 EPS for the current fiscal year.

Insider Buying and Selling at WESCO International

In other news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now directly owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the transaction, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC raised its holdings in WESCO International by 9.9% during the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after purchasing an additional 333 shares in the last quarter. Hosking Partners LLP grew its stake in WESCO International by 68.6% during the 1st quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after buying an additional 25,864 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of 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 period. Peregrine Capital Management LLC grew its position in shares of WESCO International by 14.6% during the first quarter. Peregrine Capital Management LLC now owns 10,218 shares of the technology company’s stock worth $1,750,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its position in WESCO International by 43.9% during the 1st quarter. Hennessy Advisors Inc. now owns 26,900 shares of the technology company’s stock worth $4,607,000 after purchasing an additional 8,200 shares during the last quarter. 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).