KeyCorp Forecasts Strong Price Appreciation for WESCO International (NYSE:WCC) Stock

WESCO International (NYSE:WCC) had its target price raised by KeyCorp from $195.00 to $225.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently commented on WCC. Stephens reiterated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Robert W. Baird raised their target price on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Loop Capital raised their target price on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada raised their target price on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $206.71.

WESCO International Stock Down 1.9 %

Shares of NYSE WCC opened at $184.61 on Friday. WESCO International has a 12-month low of $132.37 and a 12-month high of $195.99. The company has a market cap of $9.08 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.59 and a beta of 2.01. The company has a current ratio of 2.21, a quick ratio of 1.34 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $168.15 and a 200 day moving average price of $167.66.

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

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s payout ratio is 13.21%.

Insider Buying and Selling at WESCO International

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of WESCO International by 0.5% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 186,081 shares of the technology company’s stock worth $31,258,000 after purchasing an additional 983 shares during the period. Innealta Capital LLC increased its holdings in shares of WESCO International by 68.0% during the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after purchasing an additional 650 shares during the period. Van ECK Associates Corp increased its holdings in shares of WESCO International by 128.3% during the 3rd quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company’s stock worth $5,182,000 after purchasing an additional 16,673 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after purchasing an additional 17,682 shares during the period. Finally, EMC Capital Management increased its holdings in shares of WESCO International by 580.8% during the 3rd quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after purchasing an additional 13,730 shares during the period. 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).