WESCO International (NYSE:WCC) Rating Increased to Buy at StockNews.com

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

Several other research analysts have also recently issued reports on the company. Baird R W cut WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Loop Capital lifted their target price on WESCO International from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 target price on shares of WESCO International in a research report on Thursday, June 20th. Robert W. Baird reiterated a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of WESCO International in a report on Wednesday, May 29th. Finally, KeyCorp lifted their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, WESCO International presently has a consensus rating of “Moderate Buy” and an average price target of $191.17.

WESCO International Trading Down 2.2 %

Shares of WESCO International stock opened at $160.25 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.21. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The stock has a 50 day moving average price of $171.74 and a two-hundred day moving average price of $168.68. The stock has a market capitalization of $8.15 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.17 and a beta of 2.06.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the business posted $3.75 EPS. The company’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that WESCO International will post 14.07 earnings per share for the current fiscal year.

Insider Buying and Selling at WESCO International

In other WESCO International news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the sale, the insider now directly owns 2,134,683 shares in the company, valued at $369,342,852.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Christine Ann Wolf sold 4,486 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total transaction of $852,923.18. Following the sale, the executive vice president now directly owns 30,304 shares in the company, valued at approximately $5,761,699.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total value of $302,785,000.00. Following the sale, the insider now owns 2,134,683 shares in the company, valued at $369,342,852.66. The disclosure for this sale can be found here. Insiders have sold a total of 1,754,960 shares of company stock worth $303,728,784 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of WESCO International

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in WESCO International in the 1st quarter worth approximately $26,000. KB Financial Partners LLC increased its stake in shares of WESCO International by 76.8% during the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after buying an additional 86 shares during the period. Anchor Investment Management LLC purchased a new position in shares of WESCO International during the fourth quarter valued at approximately $48,000. GAMMA Investing LLC purchased a new position in shares of WESCO International during the fourth quarter valued at approximately $56,000. Finally, Richelieu Gestion SA purchased a new position in shares of WESCO International during the fourth quarter valued at approximately $122,000. Institutional investors own 93.76% of the company’s stock.

WESCO International Company Profile

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).