WESCO International (NYSE:WCC) Given New $180.00 Price Target at JPMorgan Chase & Co.

WESCO International (NYSE:WCC) had its price objective reduced by analysts at JPMorgan Chase & Co. from $210.00 to $180.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.28% from the stock’s previous close.

Several other brokerages have also recently commented on WCC. Royal Bank of Canada boosted their target price on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. KeyCorp lowered their price objective on shares of WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Stephens raised their target price on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Oppenheimer decreased their price target on WESCO International from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Monday, May 5th. Finally, Loop Capital lowered their price target on WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

WESCO International Price Performance

WESCO International stock traded up $4.68 during mid-day trading on Tuesday, reaching $169.36. 123,301 shares of the company were exchanged, compared to its average volume of 763,066. The firm has a market cap of $8.27 billion, a PE ratio of 12.96, a PEG ratio of 1.45 and a beta of 1.92. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The company has a fifty day simple moving average of $158.16 and a 200-day simple moving average of $177.59. WESCO International has a 12 month low of $125.21 and a 12 month high of $216.17.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.63% and a net margin of 3.29%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $2.30 earnings per share. As a group, equities research analysts expect that WESCO International will post 13.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its position in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. grew its stake in shares of WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after purchasing an additional 81 shares during the period. Parallel Advisors LLC increased its holdings in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company’s stock valued at $69,000 after purchasing an additional 78 shares during the period. Finally, GAMMA Investing LLC raised its position in WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock worth $74,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 93.76% 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).