Loop Capital Increases WESCO International (NYSE:WCC) Price Target to $200.00

WESCO International (NYSE:WCC) had its price objective upped by equities research analysts at Loop Capital from $190.00 to $200.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Loop Capital’s price objective would indicate a potential upside of 10.84% from the company’s current price.

Several other brokerages also recently commented on WCC. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. KeyCorp boosted their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Royal Bank of Canada cut their price objective on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a report on Friday, May 3rd. Finally, Robert W. Baird lowered their target price on WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

WESCO International Trading Up 4.4 %

Shares of WCC stock opened at $180.44 on Monday. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The firm’s 50 day moving average price is $162.56 and its two-hundred day moving average price is $160.78. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.19 and a beta of 2.07.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share 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 analyst estimates of $5.30 billion. During the same quarter in the previous year, the firm posted $3.75 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, analysts anticipate that WESCO International will post 14.12 EPS for the current year.

Insider Transactions at WESCO International

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

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new position in shares of WESCO International during the first quarter worth about $26,000. KB Financial Partners LLC grew its position in WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of WESCO International in the fourth quarter valued at approximately $48,000. GAMMA Investing LLC bought a new stake in shares of WESCO International during the fourth quarter valued at approximately $56,000. Finally, Richelieu Gestion SA acquired a new position in shares of WESCO International during the fourth quarter worth approximately $122,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).