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

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

Several other brokerages have also commented on WCC. StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Oppenheimer lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Stephens reissued an overweight rating and issued a $190.00 target price on shares of WESCO International in a research report on Monday. Robert W. Baird lowered their price target on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Finally, Baird R W lowered WESCO International from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $184.71.

WESCO International Price Performance

Shares of WCC opened at $155.47 on Tuesday. The company has a 50 day moving average of $166.05 and a two-hundred day moving average of $166.66. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.26 and a beta of 2.06.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the business earned $3.71 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts predict that WESCO International will post 12.1 earnings per share for the current fiscal year.

WESCO International Announces Dividend

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

Insider Transactions at WESCO International

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

Institutional Trading of WESCO International

Institutional investors have recently bought and sold shares of the business. Lyrical Asset Management LP raised its stake 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 during the period. River Road Asset Management LLC purchased a new position in WESCO International during the fourth quarter valued at $79,404,000. Neo Ivy Capital Management acquired a new stake in shares of WESCO International in the second quarter valued at about $5,916,000. Russell Investments Group Ltd. grew its position in shares of WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after purchasing an additional 31,200 shares during the period. Finally, Hosking Partners LLP increased its stake in shares of WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after purchasing an additional 25,864 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

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).