WESCO International (NYSE:WCC) Upgraded at Royal Bank Of Canada

WESCO International (NYSE:WCC) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a $302.00 price target on the technology company’s stock, up from their prior price target of $262.00. Royal Bank Of Canada’s price target would suggest a potential upside of 21.61% from the company’s current price.

WCC has been the topic of several other reports. KeyCorp upped their target price on shares of WESCO International from $258.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of WESCO International in a research note on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Barclays increased their price objective on WESCO International from $258.00 to $274.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.11.

WESCO International Stock Up 0.2%

WCC opened at $248.34 on Wednesday. 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 fifty-two week low of $125.21 and a fifty-two week high of $268.27. The company has a fifty day moving average of $227.44 and a two-hundred day moving average of $205.04. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.77 and a beta of 1.79.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $3.92 EPS 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the business earned $3.58 earnings per share. The firm’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, research analysts expect that WESCO International will post 13.3 earnings per share for the current year.

Insider Activity at WESCO International

In related news, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christine Ann Wolf sold 4,685 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $259.52, for a total transaction of $1,215,851.20. Following the completion of the transaction, the executive vice president owned 30,195 shares of the company’s stock, valued at $7,836,206.40. This trade represents a 13.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 135,074 shares of company stock valued at $30,973,210 in the last ninety days. 3.10% of the stock is owned by insiders.

Institutional Trading of WESCO International

Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in WESCO International by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 83,734 shares of the technology company’s stock valued at $17,710,000 after buying an additional 777 shares in the last quarter. Dean Capital Management boosted its position in shares of WESCO International by 17.8% during the 3rd quarter. Dean Capital Management now owns 9,913 shares of the technology company’s stock valued at $2,097,000 after purchasing an additional 1,500 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of WESCO International by 6.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 324,068 shares of the technology company’s stock worth $68,541,000 after purchasing an additional 19,056 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of WESCO International by 1.1% in the 3rd quarter. California State Teachers Retirement System now owns 46,127 shares of the technology company’s stock worth $9,756,000 after purchasing an additional 523 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in WESCO International by 166.0% during the third quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company’s stock valued at $28,000 after purchasing an additional 83 shares during the last quarter. 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).