WESCO International (NYSE:WCC) Stock Price Expected to Rise, Barclays Analyst Says

WESCO International (NYSE:WCC) had its price objective hoisted by equities researchers at Barclays from $258.00 to $274.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 6.20% from the company’s current price.

A number of other brokerages have also issued reports on WCC. Loop Capital boosted their target price on shares of WESCO International from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Stephens lowered WESCO International from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada increased their price target on WESCO International from $222.00 to $262.00 and gave the stock a “sector perform” rating in a research report on Friday, October 31st. Finally, KeyCorp lifted their price objective on WESCO International from $258.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, WESCO International presently has an average rating of “Moderate Buy” and an average target price of $250.67.

WESCO International Trading Down 3.4%

WESCO International stock traded down $9.15 during midday trading on Thursday, reaching $258.00. The stock had a trading volume of 901,729 shares, compared to its average volume of 701,284. 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 firm has a market cap of $12.55 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.79. WESCO International has a 52-week low of $125.21 and a 52-week high of $268.27. The company has a fifty day moving average of $224.61 and a 200 day moving average of $202.15.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.17. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the business posted $3.58 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. On average, analysts anticipate that WESCO International will post 13.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David S. Schulz sold 12,227 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the transaction, the chief financial officer directly owned 110,376 shares of the company’s stock, valued at approximately $24,853,363.92. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Diane Lazzaris sold 7,522 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $256.00, for a total value of $1,925,632.00. Following the sale, the executive vice president owned 45,401 shares of the company’s stock, valued at approximately $11,622,656. This represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 142,074 shares of company stock valued at $32,430,050. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WESCO International

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC raised its position in shares of WESCO International by 788.2% in the 3rd quarter. Rothschild Investment LLC now owns 151 shares of the technology company’s stock valued at $32,000 after purchasing an additional 134 shares during the last quarter. Root Financial Partners LLC acquired a new position in WESCO International during the 3rd quarter valued at approximately $37,000. Rossby Financial LCC raised its holdings in shares of WESCO International by 117.4% in the third quarter. Rossby Financial LCC now owns 200 shares of the technology company’s stock worth $43,000 after buying an additional 108 shares during the last quarter. First Horizon Advisors Inc. raised its stake in WESCO International by 129.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in WESCO International by 46.8% during the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 93.75% 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).