WESCO International (NYSE:WCC) Stock Price Target Raised at Barclays

WESCO International (NYSE:WCC) had its price target lifted by Barclays from $437.00 to $450.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 36.53% from the stock’s previous close.

A number of other research firms have also weighed in on WCC. Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $350.00 to $400.00 in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Royal Bank Of Canada upped their price objective on WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, Zacks Research lowered WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, WESCO International currently has an average rating of “Moderate Buy” and an average price target of $405.71.

WESCO International Stock Up 4.1%

NYSE WCC traded up $12.90 on Wednesday, reaching $329.60. The company had a trading volume of 113,604 shares, compared to its average volume of 613,032. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.01 and a quick ratio of 1.19. WESCO International has a 1 year low of $240.55 and a 1 year high of $388.64. The firm has a 50-day moving average of $346.92 and a 200-day moving average of $328.24. The firm has a market capitalization of $16.04 billion, a PE ratio of 20.43, a P/E/G ratio of 1.72 and a beta of 1.55.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same quarter last year, the firm posted $3.92 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that WESCO International will post 18.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Akash Khurana sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $366.78, for a total value of $1,247,052.00. Following the completion of the sale, the executive vice president owned 27,404 shares in the company, valued at approximately $10,051,239.12. This represents a 11.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony S. Marino bought 341 shares of the business’s stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $292.97 per share, for a total transaction of $99,902.77. Following the completion of the purchase, the executive vice president owned 1,363 shares in the company, valued at approximately $399,318.11. This trade represents a 33.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Wealth Asset Management LLC acquired a new position in WESCO International in the 3rd quarter worth about $970,000. USS Investment Management Ltd boosted its holdings in WESCO International by 15.7% in the third quarter. USS Investment Management Ltd now owns 35,516 shares of the technology company’s stock worth $12,772,000 after purchasing an additional 4,811 shares in the last quarter. Private Advisor Group LLC boosted its holdings in WESCO International by 64.8% in the third quarter. Private Advisor Group LLC now owns 2,011 shares of the technology company’s stock worth $723,000 after purchasing an additional 791 shares in the last quarter. Ieq Capital LLC increased its position in WESCO International by 395.0% during the third quarter. Ieq Capital LLC now owns 55,217 shares of the technology company’s stock worth $19,855,000 after buying an additional 44,063 shares during the last quarter. Finally, Focus Advisor Solutions LLC increased its position in WESCO International by 343.0% during the third quarter. Focus Advisor Solutions LLC now owns 8,998 shares of the technology company’s stock worth $3,236,000 after buying an additional 6,967 shares during the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

WESCO International Company Profile

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.