WESCO International (NYSE:WCC) Price Target Raised to $235.00

Key Points

• WESCO International had its target price increased from $220.00 to $235.00 by Loop Capital, indicating a potential upside of 17.05% based on the company's current stock price.
• Other analysts also raised their target prices, with KeyCorp setting a target of $240.00 and Raymond James Financial increasing it to $240.00, reflecting optimism about the company's performance.
• In its latest earnings report, WESCO reported $3.39 earnings per share, exceeding analyst expectations and showing a year-over-year revenue increase of 7.7%.

WESCO International (NYSE:WCC - Get Free Report) had its target price upped by investment analysts at Loop Capital from $220.00 to $235.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Loop Capital's target price indicates a potential upside of 17.05% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. KeyCorp increased their target price on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday. Raymond James Financial reissued 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. Oppenheimer cut their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their target price on WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Stephens cut WESCO International from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Three equities research 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, WESCO International currently has an average rating of "Moderate Buy" and an average price target of $221.78.

WESCO International Trading Down 4.0%

Shares of WESCO International stock traded down $8.31 during midday trading on Tuesday, reaching $200.76. 136,292 shares of the company's stock traded hands, compared to its average volume of 741,391. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The company has a market cap of $9.80 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.84. The stock has a 50 day moving average of $189.68 and a 200-day moving average of $176.05. WESCO International has a 12 month low of $125.21 and a 12 month high of $219.07.

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 the consensus estimate of $3.31 by $0.08. The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 earnings per share. As a group, equities analysts expect that WESCO International will post 13.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other WESCO International news, 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 value of $550,196.84. Following the transaction, the executive vice president owned 30,181 shares of the company's stock, valued at approximately $5,346,262.34. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

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

WESCO International Company Profile

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.