WESCO International (NYSE:WCC) Upgraded to Buy by StockNews.com

WESCO International (NYSE:WCC - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Friday.

Other equities analysts have also issued research reports about the company. Robert W. Baird cut their price target on WESCO International from $203.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada lowered their target price on shares of WESCO International from $176.00 to $172.00 and set a "sector perform" rating for the company in a report on Friday. KeyCorp raised their price target on WESCO International from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on WESCO International from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, March 15th. Finally, Oppenheimer boosted their price target on shares of WESCO International from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $188.67.

WESCO International Price Performance

Shares of WESCO International stock traded up $2.62 during trading on Friday, hitting $167.70. 754,877 shares of the company's stock traded hands, compared to its average volume of 609,629. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The firm's fifty day moving average price is $160.82 and its 200 day moving average price is $159.55. The company has a market cap of $8.54 billion, a PE ratio of 12.39, a PEG ratio of 1.09 and a beta of 2.07.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.13). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The firm's revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.75 EPS. Analysts forecast that WESCO International will post 14.14 earnings per share for the current year.

Insider Activity at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares of the company's stock, valued at $10,333,150. The sale was disclosed in a document filed with the SEC, which is available through this link. In other WESCO International news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 3,490 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WESCO International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of WESCO International by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company's stock valued at $60,009,000 after acquiring an additional 4,187 shares in the last quarter. New York State Teachers Retirement System increased its position in WESCO International by 50.5% in the 3rd quarter. New York State Teachers Retirement System now owns 20,108 shares of the technology company's stock valued at $2,892,000 after buying an additional 6,747 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in WESCO International during the 3rd quarter worth approximately $3,883,000. FDx Advisors Inc. boosted its holdings in WESCO International by 7.3% in the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company's stock worth $224,000 after acquiring an additional 106 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in WESCO International by 8.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,580 shares of the technology company's stock valued at $2,816,000 after acquiring an additional 1,480 shares during the period. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).

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