WESCO International (NYSE:WCC) Given New $190.00 Price Target at Loop Capital

WESCO International (NYSE:WCC) had its price target cut by Loop Capital from $200.00 to $190.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also issued reports on WCC. KeyCorp dropped 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 decreased 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. Robert W. Baird decreased their price objective on WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Stephens restated an overweight rating and set a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Finally, Oppenheimer upped their price target on WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $184.71.

WESCO International Price Performance

Shares of WCC stock traded up $0.66 during trading hours on Tuesday, reaching $156.13. The company had a trading volume of 999,357 shares, compared to its average volume of 714,256. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. The stock has a fifty day moving average of $165.58 and a 200-day moving average of $166.53. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.26 and a beta of 2.06. WESCO International has a 12-month low of $122.30 and a 12-month high of $195.43.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The company had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $3.71 earnings per share. On average, equities analysts anticipate that WESCO International will post 12.1 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, June 14th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Activity at WESCO International

In related news, CAO Matthew S. Kulasa sold 474 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value of $90,861.06. Following the transaction, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at $681,457.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $191.69, for a total transaction of $90,861.06. Following the transaction, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at $681,457.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the transaction, the executive vice president now directly owns 30,304 shares in the company, valued at approximately $5,761,699.52. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently made changes to their positions in WCC. Thompson Siegel & Walmsley LLC raised its holdings in WESCO International by 0.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock worth $9,275,000 after purchasing an additional 173 shares during the last quarter. Davis Selected Advisers raised its holdings in WESCO International by 1.5% during the second quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock worth $30,697,000 after purchasing an additional 2,824 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in WESCO International by 1.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 192,056 shares of the technology company’s stock worth $30,445,000 after purchasing an additional 1,857 shares during the last quarter. Van ECK Associates Corp raised its holdings in WESCO International by 11.9% during the second quarter. Van ECK Associates Corp now owns 12,993 shares of the technology company’s stock worth $2,060,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in WESCO International during the second quarter worth $152,000. Hedge funds and other 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).