WESCO International (NYSE:WCC) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of WESCO International (NYSE:WCC – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

Several other equities research analysts have also weighed in on WCC. KeyCorp increased their target price on shares of WESCO International from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Robert W. Baird increased their target price on shares of WESCO International from $170.00 to $189.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Raymond James raised their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 15th. Royal Bank of Canada raised their price objective on shares of WESCO International from $163.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Finally, Oppenheimer raised their price objective on shares of WESCO International from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $189.00.

WESCO International Trading Down 6.9 %

Shares of NYSE WCC opened at $144.60 on Thursday. The company’s 50 day simple moving average is $151.76 and its 200 day simple moving average is $135.55. WESCO International has a fifty-two week low of $99.00 and a fifty-two week high of $175.00. The firm has a market capitalization of $7.39 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.90 and a beta of 1.97. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.18 and a quick ratio of 1.27.

WESCO International (NYSE:WCC – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The technology company reported $4.13 earnings per share for the quarter, beating the consensus estimate of $3.81 by $0.32. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.38 billion. WESCO International had a net margin of 4.02% and a return on equity of 21.61%. WESCO International’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 earnings per share. On average, analysts predict that WESCO International will post 17.53 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Engel sold 66,120 shares of WESCO International stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $161.78, for a total transaction of $10,696,893.60. Following the completion of the sale, the chief executive officer now owns 421,923 shares of the company’s stock, valued at approximately $68,258,702.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other WESCO International news, EVP Diane Lazzaris sold 10,748 shares of WESCO International stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $161.56, for a total value of $1,736,446.88. Following the completion of the sale, the executive vice president now owns 56,172 shares in the company, valued at approximately $9,075,148.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Engel sold 66,120 shares of WESCO International stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $161.78, for a total transaction of $10,696,893.60. Following the completion of the sale, the chief executive officer now owns 421,923 shares of the company’s stock, valued at approximately $68,258,702.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,532 shares of company stock valued at $17,217,762. Company insiders own 2.60% of the company’s stock.

Institutional Trading of WESCO International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors LLC acquired a new stake in WESCO International in the 3rd quarter worth about $34,000. RFP Financial Group LLC acquired a new stake in WESCO International in the 4th quarter worth about $38,000. EverSource Wealth Advisors LLC acquired a new stake in WESCO International in the 3rd quarter worth about $56,000. Fred Alger Management LLC acquired a new position in shares of WESCO International in the 3rd quarter valued at approximately $60,000. Finally, SG Americas Securities LLC acquired a new position in shares of WESCO International in the 4th quarter valued at approximately $156,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

About WESCO International

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WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturer products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.