WESCO International (NYSE:WCC) Price Target Lowered to $190.00 at Loop Capital

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

Several other research firms have also weighed in on WCC. Baird R W lowered shares of WESCO International from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Stephens reaffirmed an overweight rating and set a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. KeyCorp lowered their price target on shares of WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of WESCO International from $175.00 to $171.00 and set a sector perform rating for the company in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $184.71.

WESCO International Stock Performance

Shares of NYSE WCC traded up $0.66 during mid-day trading on Tuesday, hitting $156.13. The company had a trading volume of 999,357 shares, compared to its average volume of 714,256. 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 business’s 50-day simple moving average is $165.58 and its 200-day simple moving average is $166.53. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The firm has a market cap of $7.94 billion, a P/E ratio of 13.00, a PEG ratio of 1.26 and a beta of 2.06.

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 analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.71 EPS. As a group, analysts predict that WESCO International will post 12.1 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, June 14th. WESCO International’s dividend payout ratio is presently 13.74%.

Insiders Place Their Bets

In other WESCO International news, EVP Christine Ann Wolf sold 4,486 shares of WESCO International stock in a transaction on Friday, May 24th. The shares were sold at an average price of $190.13, for a total transaction of $852,923.18. Following the completion of the sale, the executive vice president now owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christine Ann Wolf sold 4,486 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares in the company, valued at $681,457.95. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC increased its stake in shares of WESCO International by 0.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock worth $9,275,000 after purchasing an additional 173 shares during the last quarter. Davis Selected Advisers grew its stake in WESCO International by 1.5% in the 2nd quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock valued at $30,697,000 after buying an additional 2,824 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in WESCO International by 1.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 192,056 shares of the technology company’s stock valued at $30,445,000 after buying an additional 1,857 shares during the last quarter. Van ECK Associates Corp grew its stake in WESCO International by 11.9% in the 2nd quarter. Van ECK Associates Corp now owns 12,993 shares of the technology company’s stock valued at $2,060,000 after buying an additional 1,378 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in WESCO International in the 2nd quarter valued at about $152,000. 93.76% of the stock is owned by institutional investors.

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).