WESCO International (NYSE:WCC) Price Target Raised to $200.00

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

Several other brokerages have also issued reports on WCC. KeyCorp raised their target price on WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Royal Bank of Canada cut their price target on WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. Oppenheimer increased 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. Finally, StockNews.com upgraded WESCO International from a hold rating to a buy rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $187.00.

WESCO International Trading Down 3.8 %

Shares of WESCO International stock opened at $173.69 on Monday. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43. The firm has a market cap of $8.85 billion, a PE ratio of 14.46, a P/E/G ratio of 1.19 and a beta of 2.07. The stock has a fifty day moving average price of $163.11 and a 200-day moving average price of $160.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) 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 business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the business earned $3.75 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts anticipate that WESCO International will post 14.12 EPS for the current year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend and a yield of 0.95%. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is currently 13.74%.

Insiders Place Their Bets

In other WESCO International news, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the transaction, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently modified their holdings of WCC. Rise Advisors LLC purchased a new stake in shares of WESCO International in the 1st quarter valued at about $26,000. KB Financial Partners LLC raised its holdings in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after acquiring an additional 86 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of WESCO International in the 4th quarter valued at about $48,000. GAMMA Investing LLC purchased a new stake in shares of WESCO International in the 4th quarter valued at about $56,000. Finally, Richelieu Gestion SA purchased a new stake in shares of WESCO International in the 4th quarter valued at about $122,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).