WESCO International (NYSE:WCC) Given New $200.00 Price Target at Loop Capital

WESCO International (NYSE:WCC) had its price objective increased by investment analysts at Loop Capital from $190.00 to $200.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Loop Capital’s price target would suggest a potential upside of 16.75% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Robert W. Baird reduced their price target on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Royal Bank of Canada reduced their price objective on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a report on Friday. Finally, KeyCorp upped their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

WESCO International Stock Up 2.2 %

Shares of NYSE:WCC traded up $3.61 during midday trading on Monday, reaching $171.31. The company had a trading volume of 408,924 shares, compared to its average volume of 606,999. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33. The stock’s fifty day moving average price is $161.27 and its 200-day moving average price is $160.10. The stock has a market capitalization of $8.73 billion, a P/E ratio of 14.23, a PEG ratio of 1.19 and a beta of 2.07. WESCO International has a one year low of $122.30 and a one year high of $195.43.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter last year, the firm posted $3.75 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that WESCO International will post 14.12 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Cameron sold 5,352 shares of the company’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 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 Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Cameron sold 5,352 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently modified their holdings of WCC. Rise Advisors LLC bought a new stake in shares of WESCO International during the 1st quarter worth $26,000. KB Financial Partners LLC boosted its holdings in WESCO International by 76.8% during the third 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 during the period. Anchor Investment Management LLC acquired a new stake in shares of WESCO International in the fourth quarter valued at about $48,000. GAMMA Investing LLC bought a new position in shares of WESCO International in the fourth quarter worth about $56,000. Finally, Richelieu Gestion SA acquired a new position in shares of WESCO International during the 4th quarter worth about $122,000. 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).