Weiss Ratings Reiterates Hold (C+) Rating for WESCO International (NYSE:WCC)

Key Points

• WESCO International has received a "hold (C+)" rating from Weiss Ratings, reflecting a cautious outlook on the stock.
• Several analysts have recently updated their ratings and target prices for WESCO, with Barclays giving an "overweight" rating and a target of $258.00.
• The company's stock performance shows significant movement, with shares trading at $225.63 and a 52-week range of $125.21 to $228.35.

WESCO International (NYSE:WCC - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on WCC. Barclays began coverage on shares of WESCO International in a research report on Wednesday, October 8th. They set an "overweight" rating and a $258.00 price target on the stock. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. KeyCorp upped their price target on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Wall Street Zen upgraded WESCO International from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. upped their target price on WESCO International from $225.00 to $245.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.20.

WESCO International Price Performance

Shares of NYSE WCC traded up $5.96 during midday trading on Friday, hitting $225.63. The stock had a trading volume of 193,418 shares, compared to its average volume of 693,932. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $216.05 and a 200-day simple moving average of $191.86. The company has a market capitalization of $10.98 billion, a PE ratio of 17.66, a P/E/G ratio of 1.66 and a beta of 1.79. WESCO International has a 1 year low of $125.21 and a 1 year high of $228.35.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.31 by $0.08. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.21 EPS. On average, sell-side analysts expect that WESCO International will post 13.3 EPS for the current fiscal year.

Insider Buying and Selling

In other WESCO International news, EVP James Cameron sold 10,325 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the completion of the transaction, the executive vice president owned 45,706 shares of the company's stock, valued at $10,350,123.70. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David S. Schulz sold 12,227 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the completion of the sale, the chief financial officer directly owned 110,376 shares in the company, valued at $24,853,363.92. This trade represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,131 shares of company stock valued at $30,384,421 over the last three months. Company insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WCC. Lazard Asset Management LLC grew its stake in shares of WESCO International by 1.4% in the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock valued at $740,000 after buying an additional 54 shares in the last quarter. Parallel Advisors LLC grew its position in WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock valued at $94,000 after acquiring an additional 60 shares in the last quarter. Farther Finance Advisors LLC increased its stake in WESCO International by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,340 shares of the technology company's stock worth $283,000 after purchasing an additional 79 shares during the period. Third Avenue Management LLC lifted its position in shares of WESCO International by 0.6% during the first quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock worth $2,302,000 after purchasing an additional 83 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of WESCO International by 3.7% in the first quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after purchasing an additional 84 shares in the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

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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