KeyCorp Issues Pessimistic Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC - Get Free Report) had its price objective reduced by KeyCorp from $245.00 to $205.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. KeyCorp's price objective would indicate a potential upside of 26.00% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group increased their target price on WESCO International from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, December 6th. StockNews.com downgraded WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their price objective on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Stephens upped their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, WESCO International has a consensus rating of "Moderate Buy" and an average target price of $219.43.

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WESCO International Price Performance

WESCO International stock traded down $2.27 during trading on Monday, reaching $162.70. The company had a trading volume of 1,409,392 shares, compared to its average volume of 718,069. The firm has a market capitalization of $7.94 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The firm's 50-day simple moving average is $181.45 and its 200 day simple moving average is $182.21. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. WESCO International has a 1-year low of $143.06 and a 1-year high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last announced its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. As a group, equities research analysts anticipate that WESCO International will post 13.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WESCO International

A number of hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its holdings in WESCO International by 5.5% in the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock valued at $216,000 after purchasing an additional 62 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of WESCO International by 39.9% during the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock valued at $43,000 after buying an additional 67 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in WESCO International by 1.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company's stock valued at $728,000 after acquiring an additional 71 shares during the last quarter. GAMMA Investing LLC grew its position in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock worth $68,000 after acquiring an additional 75 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in WESCO International by 43.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 93.76% 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).