WESCO International (NYSE:WCC) Price Target Raised to $205.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised WESCO International's price target to $205.00, maintaining an "overweight" rating despite indicating a potential downside of 1.68% from the stock's previous close.
• Other analysts have mixed ratings on WESCO International, with Stephens downgrading the stock to "equal weight" while KeyCorp increased their price target from $210.00 to $240.00 with an "overweight" rating.
• WESCO International's stock recently traded at $208.49, reflecting a strong performance, with quarterly earnings surpassing estimates, showing a revenue increase of 7.7% compared to the same period last year.

WESCO International (NYSE:WCC - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $180.00 to $205.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 1.68% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Stephens downgraded WESCO International from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Oppenheimer lowered their price objective on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. KeyCorp upped their price objective on WESCO International from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday. Loop Capital lowered their price objective on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research report on Friday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $220.11.

WESCO International Stock Performance

Shares of WESCO International stock traded up $5.00 during trading on Monday, reaching $208.49. The company's stock had a trading volume of 216,388 shares, compared to its average volume of 741,203. The business's 50-day moving average price is $188.80 and its 200-day moving average price is $175.93. The firm has a market cap of $10.18 billion, a PE ratio of 16.33, a P/E/G ratio of 1.57 and a beta of 1.84. WESCO International has a 52 week low of $125.21 and a 52 week high of $219.07. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $3.21 earnings per share. WESCO International's revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that WESCO International will post 13.3 earnings per share for the current year.

Insider Transactions at WESCO International

In related news, EVP Christine Ann Wolf sold 3,106 shares of WESCO International stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the sale, the executive vice president owned 30,181 shares of the company's stock, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On WESCO International

Several large investors have recently bought and sold shares of WCC. Russell Investments Group Ltd. lifted its stake in WESCO International by 62.9% during the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after acquiring an additional 83,031 shares in the last quarter. Covestor Ltd lifted its stake in WESCO International by 5.5% during the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock valued at $216,000 after acquiring an additional 62 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new position in WESCO International during the 4th quarter valued at $1,094,000. Gabelli Funds LLC bought a new stake in shares of WESCO International during the 4th quarter worth $633,000. Finally, MetLife Investment Management LLC raised its stake in shares of WESCO International by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 25,093 shares of the technology company's stock worth $4,541,000 after purchasing an additional 1,991 shares during the period. 93.76% of the stock is currently owned by 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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