WESCO International (NYSE:WCC) Stock Price Target Raised at Barclays

Key Points

• Barclays raised its WESCO International price target to $450 from $437 and maintained an Overweight rating, implying 36.53% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and one Hold, with a consensus rating of Moderate Buy and an average price target of $405.71.
• WESCO beat quarterly estimates, reporting EPS of $5.77 versus $4.69 expected and revenue of $7.23 billion versus $6.87 billion; revenue increased 16.6% year over year.

WESCO International (NYSE:WCC - Get Free Report) had its price objective upped by research analysts at Barclays from $437.00 to $450.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's price objective indicates a potential upside of 36.53% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of WESCO International from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Weiss Ratings lowered WESCO International from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Stephens upgraded shares of WESCO International from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on WESCO International from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, October 30th. Finally, Wall Street Zen raised shares of WESCO International from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $405.71.

WESCO International Stock Up 4.1%

Shares of WCC traded up $12.90 during mid-day trading on Wednesday, hitting $329.60. 113,604 shares of the company's stock were exchanged, compared to its average volume of 613,032. The stock's 50-day moving average is $346.92 and its 200-day moving average is $328.24. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 2.01. WESCO International has a fifty-two week low of $240.55 and a fifty-two week high of $388.64. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 1.72 and a beta of 1.55.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $1.08. The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The company's revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.92 earnings per share. On average, sell-side analysts anticipate that WESCO International will post 18.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WESCO International news, EVP Anthony S. Marino acquired 341 shares of the business's stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $292.97 per share, for a total transaction of $99,902.77. Following the completion of the transaction, the executive vice president owned 1,363 shares of the company's stock, valued at $399,318.11. The trade was a 33.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Akash Khurana sold 3,400 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $366.78, for a total value of $1,247,052.00. Following the completion of the transaction, the executive vice president owned 27,404 shares of the company's stock, valued at $10,051,239.12. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its holdings in WESCO International by 28.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,336 shares of the technology company's stock valued at $8,061,000 after buying an additional 5,224 shares during the period. Engineers Gate Manager LP acquired a new stake in WESCO International during the second quarter worth about $8,338,000. BlackRock Inc. purchased a new position in shares of WESCO International in the 2nd quarter worth about $3,094,634,000. Bank of America Corp DE purchased a new position in shares of WESCO International in the 2nd quarter worth about $296,304,000. Finally, Hsbc Holdings PLC purchased a new position in shares of WESCO International in the 2nd quarter worth about $8,745,000. Hedge funds and other institutional investors 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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