WESCO International (NYSE:WCC) Price Target Increased to $210.00 by Analysts at Loop Capital

WESCO International (NYSE:WCC) had its price objective upped by Loop Capital from $190.00 to $210.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently weighed in on WCC. StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. KeyCorp lowered their price target on WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada cut their price objective on WESCO International from $175.00 to $171.00 and set a sector perform rating on the stock in a report on Friday, August 2nd. Stephens reissued an overweight rating and set a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. Finally, Robert W. Baird dropped their target price on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, WESCO International has a consensus rating of Moderate Buy and an average target price of $189.86.

WESCO International Trading Down 2.1 %

WCC opened at $168.01 on Friday. WESCO International has a one year low of $122.30 and a one year high of $195.43. The stock has a market capitalization of $8.26 billion, a PE ratio of 13.99, a P/E/G ratio of 1.41 and a beta of 2.03. The business’s 50 day moving average price is $161.55 and its 200 day moving average price is $166.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.71 earnings per share. As a group, equities research analysts expect that WESCO International will post 12.14 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. WESCO International’s payout ratio is 13.74%.

Insider Buying and Selling

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

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Whittier Trust Co. of Nevada Inc. raised its holdings in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC raised its stake in WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Rise Advisors LLC purchased a new stake in WESCO International in the first quarter valued at $26,000. Thompson Siegel & Walmsley LLC lifted its position in WESCO International by 0.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock valued at $9,275,000 after acquiring an additional 173 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in WESCO International by 9.9% in the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock valued at $634,000 after acquiring an additional 333 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

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).