WESCO International (NYSE:WCC) Price Target Raised to $225.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised the price target for WESCO International from $205.00 to $225.00, indicating a potential upside of 3.15% from the current price.
• Other analysts have also increased their price targets for WESCO, with Loop Capital setting it at $235.00 and KeyCorp at $258.00, reflecting strong market confidence.
• WESCO International reported a quarterly earnings per share (EPS) of $3.39, surpassing estimates and showing a 7.7% revenue increase compared to the same quarter last year.

WESCO International (NYSE:WCC - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $205.00 to $225.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 3.15% from the company's current price.

WCC has been the subject of a number of other reports. Loop Capital lifted their target price on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Stephens downgraded WESCO International from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 target price (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Finally, KeyCorp upped their price target on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $226.00.

WESCO International Stock Up 0.1%

WCC stock traded up $0.24 during mid-day trading on Thursday, hitting $218.13. 112,560 shares of the company were exchanged, compared to its average volume of 715,623. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $10.61 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.81. WESCO International has a twelve month low of $125.21 and a twelve month high of $228.35. The firm has a fifty day simple moving average of $207.11 and a 200 day simple moving average of $180.01.

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

Insider Activity

In other WESCO International news, EVP Christine Ann Wolf sold 2,098 shares of WESCO International stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $224.92, for a total value of $471,882.16. Following the transaction, the executive vice president owned 30,188 shares in the company, valued at approximately $6,789,884.96. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Cameron sold 10,325 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $226.45, for a total value of $2,338,096.25. Following the completion of the transaction, the executive vice president directly owned 45,706 shares in the company, valued at $10,350,123.70. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,457 shares of company stock valued at $27,908,668 in the last ninety days. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently modified their holdings of WCC. Ameriprise Financial Inc. lifted its stake in WESCO International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after buying an additional 152,727 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of WESCO International by 538.0% in the 4th quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company's stock valued at $1,465,000 after acquiring an additional 6,827 shares in the last quarter. Redwood Investment Management LLC acquired a new position in WESCO International in the 4th quarter worth approximately $1,445,000. Raiffeisen Bank International AG acquired a new stake in WESCO International during the 4th quarter valued at $180,000. Finally, Amiral Gestion purchased a new stake in shares of WESCO International in the fourth quarter valued at $796,000. Institutional investors and hedge funds own 93.75% of the company's stock.

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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