WESCO International (NYSE:WCC) Rating Increased to Outperform at Robert W. Baird

WESCO International (NYSE:WCC) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a $550.00 price objective on the technology company’s stock, up from their previous price objective of $522.00. Robert W. Baird’s price objective would suggest a potential upside of 203.21% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stephens reiterated an “overweight” rating and set a $190.00 price target on shares of WESCO International in a report on Monday, August 5th. KeyCorp lowered their price objective on WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada lifted their target price on WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a report on Friday, September 27th. Loop Capital upped their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, WESCO International presently has an average rating of “Moderate Buy” and an average price target of $243.86.

WESCO International Stock Up 1.0 %

WCC stock opened at $181.39 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $163.46 and a 200 day moving average of $166.68. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The firm has a market cap of $9.22 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.45 and a beta of 2.03.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.71 earnings per share. On average, research analysts forecast that WESCO International will post 12.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in WESCO International during the first quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of WESCO International during the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares during the period. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).