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 note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Loop Capital’s target price would suggest a potential upside of 16.75% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. reduced their price target on WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Royal Bank of Canada reduced their price target on WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a research report on Friday. KeyCorp increased their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Oppenheimer increased their price target on WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.00.

WESCO International Stock Performance

Shares of NYSE:WCC traded up $3.61 during trading on Monday, reaching $171.31. 408,924 shares of the stock were exchanged, compared to its average volume of 606,999. 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 $8.73 billion, a PE ratio of 14.23, a PEG ratio of 1.19 and a beta of 2.07. The stock has a 50-day moving average price of $161.27 and a 200-day moving average price of $160.10. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last issued its quarterly earnings data 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 firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm earned $3.75 EPS. The company’s revenue was down 3.1% on a year-over-year basis. Research analysts expect that WESCO International will post 14.12 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On WESCO International

Several hedge funds have recently modified their holdings of WCC. Lyrical Asset Management LP lifted its position in shares of 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 worth $133,040,000 after buying an additional 736,616 shares in the last quarter. River Road Asset Management LLC bought a new stake in shares of WESCO International in the fourth quarter valued at $79,404,000. Hosking Partners LLP lifted its position in shares of WESCO International by 68.6% during the 1st quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after buying an additional 25,864 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in WESCO International in the 4th quarter worth about $3,177,000. Finally, New York State Common Retirement Fund raised its stake in WESCO International by 29.8% in the 3rd quarter. New York State Common Retirement Fund now owns 69,402 shares of the technology company’s stock valued at $9,981,000 after acquiring an additional 15,916 shares during the period. Institutional investors own 93.76% of the company’s stock.

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).