WESCO International (NYSE:WCC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

WESCO International (NYSE:WCC) had its price objective raised by analysts at JPMorgan Chase & Co. from $205.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 2.46% from the company’s current price.

Several other analysts also recently issued reports on WCC. Stephens downgraded WESCO International from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. KeyCorp raised their price target on WESCO International from $240.00 to $258.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Finally, Loop Capital raised their price target on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Two equities research 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, WESCO International presently has a consensus rating of “Buy” and a consensus price target of $232.67.

WESCO International Trading Up 0.6%

NYSE:WCC opened at $219.61 on Thursday. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $208.43 and its two-hundred day moving average is $180.29. WESCO International has a 52 week low of $125.21 and a 52 week high of $228.35. The company has a market cap of $10.69 billion, a PE ratio of 17.20, a P/E/G ratio of 1.68 and a beta of 1.81.

WESCO International (NYSE:WCC) last released its earnings results 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 return on equity of 12.96% and a net margin of 2.98%.The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $3.21 EPS. WESCO International’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that WESCO International will post 13.3 EPS for the current year.

Insider Transactions at WESCO International

In related news, EVP James Cameron sold 10,325 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $226.45, for a total value of $2,338,096.25. Following the sale, the executive vice president directly owned 45,706 shares in the company, valued at $10,350,123.70. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine Ann Wolf sold 2,098 shares of the firm’s 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 completion of the sale, the executive vice president owned 30,188 shares in the company, valued at approximately $6,789,884.96. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,457 shares of company stock worth $27,908,668 over the last quarter. Insiders own 3.30% of the company’s stock.

Institutional Trading of WESCO International

Several large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in shares of WESCO International by 6,769.8% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of WESCO International during the second quarter valued at $75,136,000. Bank of New York Mellon Corp grew its holdings 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 valued at $117,839,000 after buying an additional 355,570 shares in the last quarter. River Road Asset Management LLC grew its holdings in shares of WESCO International by 56.0% during 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 buying an additional 217,417 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of 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. 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).