WESCO International (NYSE:WCC) Upgraded to “Buy” 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 on Friday.

A number of other research firms have also recently weighed in on WCC. Stephens increased their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Robert W. Baird raised their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Loop Capital raised 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. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $215.88.

WESCO International Price Performance

Shares of NYSE:WCC opened at $191.73 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $194.08 and a 200 day simple moving average of $176.85. WESCO International has a fifty-two week low of $132.37 and a fifty-two week high of $216.17. The company has a market cap of $9.39 billion, a PE ratio of 15.35, a P/E/G ratio of 1.27 and a beta of 2.02.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion for 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 business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $4.49 EPS. On average, sell-side analysts anticipate that WESCO International will post 12.3 EPS for the current year.

Insider Activity at WESCO International

In related news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the transaction, the chief financial officer now owns 104,471 shares in the company, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock valued at $5,567,454 over the last ninety days. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in WESCO International during the 3rd quarter worth about $28,000. GAMMA Investing LLC boosted its holdings in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares during the period. UMB Bank n.a. grew its position in WESCO International by 18.3% during the third 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 in the last quarter. Highland Capital Management LLC acquired a new position in WESCO International in the 3rd quarter valued at approximately $221,000. Finally, Innealta Capital LLC boosted its stake 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 valued at $270,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors 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).