WESCO International (NYSE:WCC) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• WESCO International has received a "Hold (C+)" rating from Weiss Ratings, while several other analysts have issued upgrades, indicating mixed sentiment around the stock.
• The stock price of WESCO International recently rose by 4.9%, reaching $224.44, with an average price target of $235.20 based on analyst ratings.
• Insider activity has seen significant stock sales, with executives selling over 136,000 shares valued at approximately $30 million in the last quarter.

WESCO International (NYSE:WCC - Get Free Report)'s stock had its "hold (c+)" rating restated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on WCC. KeyCorp raised their price objective on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Barclays initiated coverage on WESCO International in a research report on Wednesday. They issued an "overweight" rating and a $258.00 price target on the stock. Raymond James Financial restated a "strong-buy" rating and set a $240.00 price objective (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Oppenheimer boosted their price objective on WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded WESCO International from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, WESCO International presently has an average rating of "Moderate Buy" and an average price target of $235.20.

WESCO International Stock Up 4.9%

Shares of WESCO International stock traded up $10.46 during trading on Wednesday, hitting $224.44. 285,446 shares of the stock traded hands, compared to its average volume of 707,058. The stock has a market cap of $10.92 billion, a P/E ratio of 17.59, a PEG ratio of 1.69 and a beta of 1.79. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. WESCO International has a twelve month low of $125.21 and a twelve month high of $228.35. The company has a fifty day moving average price of $213.74 and a two-hundred day moving average price of $186.94.

WESCO International (NYSE:WCC - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the company earned $3.21 EPS. The firm's revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that WESCO International will post 13.3 EPS for the current fiscal year.

Insider Activity at WESCO International

In other news, EVP Nelson John Squires III sold 13,780 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the completion of the sale, the executive vice president owned 48,625 shares in the company, valued at $10,677,563.75. The trade was a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Hemant Porwal sold 4,656 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $224.84, for a total value of $1,046,855.04. Following the completion of the sale, the executive vice president owned 19,141 shares of the company's stock, valued at $4,303,662.44. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,131 shares of company stock valued at $30,384,421 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 buying an additional 104 shares during the period. SG Americas Securities LLC grew its stake in WESCO International by 56.6% in the first quarter. SG Americas Securities LLC now owns 4,135 shares of the technology company's stock valued at $642,000 after purchasing an additional 1,495 shares in the last quarter. New York State Teachers Retirement System grew its stake in WESCO International by 3.9% in the first quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company's stock valued at $4,000,000 after purchasing an additional 968 shares in the last quarter. Farther Finance Advisors LLC grew its stake in WESCO International by 7.9% in the first quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company's stock valued at $209,000 after purchasing an additional 98 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in WESCO International by 1,286.6% in the first quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company's stock valued at $209,000 after purchasing an additional 1,248 shares in the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

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).

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