Robert W. Baird Raises WESCO International (NYSE:WCC) Price Target to $223.00

WESCO International (NYSE:WCC) had its price target raised by Robert W. Baird from $215.00 to $223.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price points to a potential upside of 16.05% from the stock’s current price.

Several other equities research analysts also recently commented on WCC. KeyCorp lowered their price objective on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Stephens reiterated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a report on Monday, August 5th. Finally, Loop Capital lifted their price objective on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $197.14.

WESCO International Stock Performance

Shares of WCC opened at $192.16 on Friday. WESCO International has a 12 month low of $125.05 and a 12 month high of $195.99. The stock has a fifty day moving average price of $167.69 and a 200-day moving average price of $167.27. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. The firm has a market cap of $9.45 billion, a PE ratio of 14.92, a P/E/G ratio of 1.48 and a beta of 2.03.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $4.49 earnings per share. Equities research analysts predict that WESCO International will post 12.04 earnings per share for the current fiscal year.

Insider Activity at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WCC. Innealta Capital LLC increased its holdings in WESCO International by 68.0% in the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after acquiring an additional 650 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of WESCO International by 128.3% during the third quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company’s stock worth $5,182,000 after purchasing an additional 16,673 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after purchasing an additional 17,682 shares during the last quarter. EMC Capital Management lifted its stake in WESCO International by 580.8% in the 3rd quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock valued at $2,703,000 after buying an additional 13,730 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in WESCO International by 1.5% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after buying an additional 2,923 shares during the last quarter. 93.76% 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).