WESCO International, Inc. (NYSE:WCC) Given Consensus Rating of "Buy" by Brokerages

Key Points

• WESCO International, Inc. (NYSE:WCC) has received a consensus rating of "Buy" from ten analysts, with an average price target of $221.78.
• Recent reports indicate upward revisions in price targets by several analysts, with Raymond James boosting their target from $230.00 to $240.00 and KeyCorp from $210.00 to $240.00.
• Executive vice president Akash Khurana sold 7,000 shares for approximately $1.46 million, reducing their ownership in the company by 17.05%.

WESCO International, Inc. (NYSE:WCC - Get Free Report) has been given an average recommendation of "Buy" by the ten analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $221.7778.

WCC has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price target (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. KeyCorp lifted their price objective on shares of WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Loop Capital lifted their price objective on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th.

Insider Transactions at WESCO International

In related news, EVP Akash Khurana sold 7,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $208.12, for a total value of $1,456,840.00. Following the completion of the sale, the executive vice president owned 34,062 shares in the company, valued at approximately $7,088,983.44. This trade represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the transaction, the executive vice president directly owned 30,181 shares of the company's stock, valued at $5,346,262.34. This trade represents a 9.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,199 shares of company stock worth $4,346,661. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

Large investors have recently made changes to their positions in the company. Whittier Trust Co. lifted its stake in shares of WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after acquiring an additional 89 shares during the period. First Horizon Advisors Inc. grew its stake in shares of WESCO International by 129.7% during the second quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company's stock worth $43,000 after purchasing an additional 131 shares during the period. Parallel Advisors LLC grew its stake in shares of WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after purchasing an additional 78 shares during the period. GAMMA Investing LLC grew its stake in shares of WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after purchasing an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of WESCO International by 95.6% during the second quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company's stock worth $139,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 93.75% of the company's stock.

WESCO International Trading Up 0.4%

Shares of NYSE:WCC opened at $227.38 on Thursday. The company has a 50 day moving average of $203.13 and a 200-day moving average of $179.01. The firm has a market cap of $11.06 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.75 and a beta of 1.84. WESCO International has a twelve month low of $125.21 and a twelve month high of $228.35. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.08. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.82 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 EPS. As a group, analysts anticipate that WESCO International will post 13.3 earnings per share for the current fiscal year.

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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