Loop Capital Increases WESCO International (NYSE:WCC) Price Target to $210.00

WESCO International (NYSE:WCC) had its price target lifted by Loop Capital from $190.00 to $210.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

WCC has been the topic of a number of other research reports. StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Stephens reaffirmed an overweight rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. KeyCorp decreased their price target on shares of WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their target price on WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price target on WESCO International from $175.00 to $171.00 and set a sector perform rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $189.86.

WESCO International Stock Down 0.3 %

WCC stock opened at $171.58 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The firm has a market capitalization of $8.72 billion, a PE ratio of 14.29, a P/E/G ratio of 1.38 and a beta of 2.03. The company’s 50 day simple moving average is $161.63 and its 200-day simple moving average is $166.38.

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 the consensus estimate of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the business posted $3.71 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts expect that WESCO International will post 12.14 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.96%. WESCO International’s payout ratio is currently 13.74%.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 5,819 shares of the business’s 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 transaction, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in WCC. Rise Advisors LLC bought a new stake in shares of WESCO International in the first quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. GAMMA Investing LLC raised its stake in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. Innealta Capital LLC bought a new position in WESCO International during the 2nd quarter worth approximately $152,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of WESCO International in the 1st quarter valued at approximately $463,000. 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).