WESCO International (NYSE:WCC) Price Target Raised to $187.00 at Royal Bank of Canada

WESCO International (NYSE:WCC) had its price target raised by Royal Bank of Canada from $171.00 to $187.00 in a research note released on Friday morning, Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Other analysts also recently issued research reports about the company. Stephens reaffirmed an overweight rating and set a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. Robert W. Baird decreased their target price on shares of WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a buy rating in a research report on Friday. KeyCorp lowered their price objective on shares of WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com cut WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, WESCO International has an average rating of Moderate Buy and a consensus target price of $189.86.

WESCO International Stock Down 2.1 %

WCC stock opened at $168.01 on Friday. The stock has a market cap of $8.26 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.41 and a beta of 2.03. The firm’s 50-day simple moving average is $161.55 and its 200 day simple moving average is $166.44. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.71 EPS. As a group, sell-side analysts predict that WESCO International will post 12.14 EPS for the current year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given 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 was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Activity

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCC. Lyrical Asset Management LP raised its stake in WESCO International by 2,583.9% during the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after purchasing an additional 736,616 shares during the period. Hudson Edge Investment Partners Inc. grew its holdings in shares of WESCO International by 16.3% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 2,733 shares of the technology company’s stock valued at $475,000 after buying an additional 384 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of WESCO International during the fourth quarter valued at $1,342,000. Rise Advisors LLC acquired a new position in WESCO International during the first quarter valued at $26,000. Finally, Polianta Ltd lifted its stake in WESCO International by 31.5% in the 1st quarter. Polianta Ltd now owns 7,100 shares of the technology company’s stock worth $1,216,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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).