WESCO International (NYSE:WCC) Price Target Increased to $200.00 by Analysts at Loop Capital

WESCO International (NYSE:WCC) had its price target raised by Loop Capital from $190.00 to $200.00 in a research note published on Monday, Benzinga reports. Loop Capital currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird dropped their target price on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a report on Wednesday, February 14th. KeyCorp lifted their target price on WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a research note on Friday. Oppenheimer lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Royal Bank of Canada cut their target price on shares of WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a research note on Friday. Finally, 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $187.00.

WESCO International Stock Up 3.1 %

WCC stock opened at $172.92 on Monday. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.19 and a beta of 2.07. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The business has a 50 day moving average price of $161.84 and a two-hundred day moving average price of $160.39. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the business posted $3.75 earnings per share. WESCO International’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that WESCO International will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.95%. 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 payout ratio is 13.74%.

Insiders Place Their Bets

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

Institutional Trading of WESCO International

A number of institutional investors and hedge funds have recently bought and sold shares of WCC. Rise Advisors LLC acquired a new stake in shares of WESCO International in the first quarter valued at about $26,000. KB Financial Partners LLC increased its position in WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after purchasing an additional 86 shares during the period. Anchor Investment Management LLC bought a new position in WESCO International during the 4th quarter worth approximately $48,000. GAMMA Investing LLC acquired a new position in shares of WESCO International in the 4th quarter worth approximately $56,000. Finally, Richelieu Gestion SA bought a new stake in shares of WESCO International in the 4th quarter valued at $122,000. 93.76% of the stock is currently 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).