WESCO International (NYSE:WCC) Upgraded at StockNews.com

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

WCC has been the subject of a number of other reports. Royal Bank of Canada reduced their price target on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Robert W. Baird decreased their price objective on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. KeyCorp increased their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Oppenheimer lifted their target price on shares of WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.67.

WESCO International Trading Up 1.6 %

Shares of NYSE:WCC traded up $2.62 on Friday, hitting $167.70. The company had a trading volume of 754,877 shares, compared to its average volume of 609,629. WESCO International has a 1 year low of $121.90 and a 1 year high of $195.43. The company has a quick ratio of 1.42, a current ratio of 2.48 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 firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.09 and a beta of 2.07.

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

Insider Buying and Selling at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Cameron sold 5,352 shares of the firm’s 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 transaction, the executive vice president now owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCC. AEGON ASSET MANAGEMENT UK Plc purchased a new position in WESCO International in the fourth quarter valued at $2,256,000. Amalgamated Bank raised its position in shares of WESCO International by 16.1% during the 3rd quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock worth $4,922,000 after acquiring an additional 4,733 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its position in WESCO International by 2.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock valued at $7,908,000 after acquiring an additional 1,390 shares during the last quarter. Van ECK Associates Corp increased its position in shares of WESCO International by 119.7% during the third quarter. Van ECK Associates Corp now owns 15,871 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 8,647 shares in the last quarter. Finally, Hosking Partners LLP grew its stake in WESCO International by 20.1% during the 3rd quarter. Hosking Partners LLP now owns 40,424 shares of the technology company’s stock worth $5,814,000 after buying an additional 6,752 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).