Royal Bank of Canada Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its price target increased by equities researchers at Royal Bank of Canada from $186.00 to $199.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.76% from the stock’s current price.

Several other analysts also recently issued reports on WCC. Oppenheimer raised their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday. Stephens reiterated an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Finally, KeyCorp raised their target price on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, WESCO International presently has an average rating of “Moderate Buy” and an average target price of $206.71.

WESCO International Price Performance

WESCO International stock opened at $188.17 on Friday. WESCO International has a 52-week low of $131.38 and a 52-week high of $195.99. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.59 and a beta of 2.01. The firm’s fifty day moving average is $168.15 and its 200 day moving average is $167.47. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.49 earnings per share. Sell-side analysts forecast that WESCO International will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling at WESCO International

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 transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of WESCO International

Several large investors have recently made changes to their positions in WCC. Whittier Trust Co. of Nevada Inc. raised its stake 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 during the last quarter. V Square Quantitative Management LLC purchased a new stake in WESCO International in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in shares of WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the period. Finally, Innealta Capital LLC acquired a new stake in WESCO International during the second quarter valued at $152,000. 93.76% of the stock is 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).