WESCO International (NYSE:WCC) Given New $200.00 Price Target at Oppenheimer

WESCO International (NYSE:WCC) had its price objective hoisted by Oppenheimer from $190.00 to $200.00 in a report issued on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently weighed in on the company. Robert W. Baird dropped their price target on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research note on Friday, March 15th. StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research note on Wednesday, February 14th. Royal Bank of Canada lowered shares of WESCO International from an outperform rating to a sector perform rating and decreased their target price for the stock from $202.00 to $173.00 in a research report on Tuesday, February 13th. Finally, KeyCorp lifted their price target on shares of WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $188.67.

WESCO International Stock Performance

Shares of WCC stock traded up $2.62 during trading on Friday, reaching $167.70. 754,885 shares of the company’s stock were exchanged, compared to its average volume of 656,150. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The firm’s fifty day moving average price is $161.27 and its 200-day moving average price is $159.76. The company has a quick ratio of 1.42, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $8.54 billion, a PE ratio of 13.96, a PEG ratio of 1.17 and a beta of 2.07.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.75 EPS. As a group, sell-side analysts anticipate that WESCO International will post 14.14 EPS for the current year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio is 13.74%.

Insider Buying and Selling

In other news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other WESCO International news, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the sale, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WCC. Rise Advisors LLC bought a new stake in WESCO International during the 1st quarter worth approximately $26,000. KB Financial Partners LLC grew its stake in shares of WESCO International by 76.8% in the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC bought a new position in WESCO International during the 4th quarter worth $48,000. GAMMA Investing LLC bought a new position in WESCO International during the 4th quarter worth $56,000. Finally, Richelieu Gestion SA acquired a new position in WESCO International during the 4th quarter worth about $122,000. 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).