WESCO International (NYSE:WCC) Price Target Raised to $210.00

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

Other analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price target on WESCO International from $175.00 to $171.00 and set a sector perform rating for the company in a report on Friday, August 2nd. Robert W. Baird reduced their target price on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a report on Friday, August 2nd. KeyCorp lowered their price target 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. StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Finally, Stephens restated an overweight rating and set a $190.00 target price on shares of WESCO International in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, WESCO International has an average rating of Moderate Buy and an average target price of $189.86.

WESCO International Stock Performance

NYSE:WCC opened at $168.01 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. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.41 and a beta of 2.03. The firm’s fifty day moving average price is $161.55 and its 200 day moving average price is $166.44. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43.

WESCO International (NYSE:WCC) last issued its 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). The firm 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%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 EPS. On average, sell-side analysts expect that WESCO International will post 12.14 EPS for the current year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend 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 related news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Pacer Advisors Inc. grew its holdings in shares of WESCO International by 23,727.4% during the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after buying an additional 1,582,379 shares in the last quarter. Lyrical Asset Management LP lifted its stake in shares of WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after buying an additional 736,616 shares during the period. Clearbridge Investments LLC acquired a new stake in WESCO International during the second quarter worth approximately $52,782,000. Neo Ivy Capital Management purchased a new stake in WESCO International in the 2nd quarter worth approximately $5,916,000. Finally, Russell Investments Group Ltd. raised its holdings in WESCO International by 74.8% in the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after acquiring an additional 31,200 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).