Wall Street Zen Upgrades WESCO International (NYSE:WCC) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded WESCO International (NYSE: WCC) from “buy” to “strong-buy.” Eight analysts rate the stock Buy and one Hold; the consensus rating is “Moderate Buy,” with a $405.71 price target.
• WESCO beat quarterly expectations, reporting earnings of $5.77 per share versus $4.69 expected and revenue of $7.23 billion versus $6.87 billion expected. Revenue rose 16.6% year over year.
• Shares opened at $321.41 and were down 1.8% in the report. Recent analyst moves included Royal Bank of Canada and Barclays raising their price targets to $450.

WESCO International (NYSE:WCC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages also recently weighed in on WCC. Royal Bank Of Canada raised their target price on WESCO International from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, October 30th. Barclays boosted their price target on WESCO International from $437.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday. Weiss Ratings downgraded WESCO International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Finally, Zacks Research downgraded WESCO International from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 19th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $405.71.

WESCO International Stock Down 1.8%

WCC stock opened at $321.41 on Friday. WESCO International has a 52 week low of $240.55 and a 52 week high of $388.64. The business has a 50-day simple moving average of $346.41 and a 200 day simple moving average of $328.82. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 1.10. The company has a market cap of $15.64 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.78 and a beta of 1.55.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, October 29th. The technology company reported $5.77 EPS for the quarter, beating the consensus estimate of $4.69 by $1.08. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The business's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $3.92 EPS. Sell-side analysts anticipate that WESCO International will post 18.40 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Akash Khurana sold 3,400 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $366.78, for a total value of $1,247,052.00. Following the transaction, the executive vice president owned 27,404 shares in the company, valued at $10,051,239.12. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony S. Marino purchased 341 shares of the business's stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $292.97 per share, for a total transaction of $99,902.77. Following the transaction, the executive vice president directly owned 1,363 shares of the company's stock, valued at approximately $399,318.11. The trade was a 33.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On WESCO International

Several large investors have recently added to or reduced their stakes in WCC. Bell Investment Advisors Inc acquired a new position in WESCO International in the second quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of WESCO International during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC bought a new stake in shares of WESCO International in the 3rd quarter valued at $32,000. Reyes Financial Architecture Inc. bought a new stake in shares of WESCO International in the 3rd quarter valued at $35,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of WESCO International during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 93.75% of the company's stock.

About WESCO International

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.

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