Loop Capital Boosts WESCO International (NYSE:WCC) Price Target to $210.00

WESCO International (NYSE:WCC) had its price objective lifted by equities researchers at Loop Capital from $190.00 to $210.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Loop Capital’s target price points to a potential upside of 22.39% from the stock’s current price.

WCC has been the subject of several other reports. Robert W. Baird decreased their price target on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stephens restated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. KeyCorp decreased their price objective on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada decreased their price objective on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $189.86.

WESCO International Price Performance

Shares of NYSE:WCC opened at $171.58 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. WESCO International has a one year low of $122.30 and a one year high of $195.43. The firm has a 50 day simple moving average of $161.63 and a 200 day simple moving average of $166.36. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.38 and a beta of 2.03.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the company posted $3.71 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. Research analysts predict that WESCO International will post 12.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WCC. Rise Advisors LLC bought a new position in shares of WESCO International in the first quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. Innealta Capital LLC bought a new position in shares of WESCO International in the second quarter valued at $152,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of WESCO International in the first quarter valued at $463,000. 93.76% of the stock is owned by institutional investors.

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).