WESCO International (NYSE:WCC) Given New $245.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for WESCO International from $225.00 to $245.00, indicating a potential upside of 11.41% from the current stock price.
• WESCO International recently reported $3.39 EPS, surpassing analysts' expectations of $3.31 and reflecting a 7.7% year-over-year revenue increase.
• The company's stock is rated with a consensus of "Buy" from analysts, with a consensus price target of $237.20.

WESCO International (NYSE:WCC - Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $225.00 to $245.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.41% from the stock's current price.

A number of other equities analysts have also recently commented on WCC. Loop Capital lifted their price target 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. Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of WESCO International in a report on Wednesday, October 8th. KeyCorp lifted their price objective on shares of WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Finally, Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $237.20.

WESCO International Price Performance

WCC traded up $0.84 during trading on Wednesday, hitting $219.90. 69,006 shares of the company traded hands, compared to its average volume of 701,671. WESCO International has a 1 year low of $125.21 and a 1 year high of $228.35. The company has a market cap of $10.70 billion, a PE ratio of 17.35, a P/E/G ratio of 1.65 and a beta of 1.79. The stock's 50-day simple moving average is $214.70 and its two-hundred day simple moving average is $188.79. 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 data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $5.82 billion. During the same period last year, the company posted $3.21 EPS. The business's revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that WESCO International will post 13.3 earnings per share for the current fiscal year.

Insider Transactions at WESCO International

In related news, EVP Nelson John Squires III sold 13,780 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the transaction, the executive vice president directly owned 48,625 shares in the company, valued at $10,677,563.75. The trade was a 22.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Cameron sold 10,325 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the transaction, the executive vice president owned 45,706 shares of the company's stock, valued at $10,350,123.70. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,131 shares of company stock worth $30,384,421. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently added to or reduced their stakes in WCC. Pacer Advisors Inc. raised its position in shares of WESCO International by 6,769.8% in the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after buying an additional 449,648 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of WESCO International during the second quarter worth about $75,136,000. Bank of New York Mellon Corp lifted its position in shares of WESCO International by 88.2% during the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock worth $117,839,000 after purchasing an additional 355,570 shares in the last quarter. River Road Asset Management LLC raised its holdings in WESCO International by 56.0% in the second quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company's stock valued at $112,216,000 after acquiring an additional 217,417 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in WESCO International by 21.2% during the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock worth $48,001,000 after purchasing an additional 54,046 shares in the last quarter. 93.75% 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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