Brokerages Set WESCO International, Inc. (NYSE:WCC) Target Price at $184.71

Shares of WESCO International, Inc. (NYSE:WCC) have received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $184.71.

A number of analysts have recently commented on WCC shares. Royal Bank of Canada cut their price objective on 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. Loop Capital dropped their price target on WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Baird R W cut WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Oppenheimer boosted 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, May 3rd. Finally, KeyCorp dropped their price target on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Insider Buying and Selling at WESCO International

In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value 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 approximately $681,457.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew S. Kulasa sold 474 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total value 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 approximately $681,457.95. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

Several large investors have recently modified their holdings of WCC. Pacer Advisors Inc. lifted its stake in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after acquiring an additional 1,582,379 shares in the last quarter. Lyrical Asset Management LP lifted its stake in 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 acquiring an additional 736,616 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in WESCO International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after acquiring an additional 8,641 shares in the last quarter. Davis Selected Advisers lifted its stake in WESCO International by 1.5% during the 2nd quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock worth $30,697,000 after acquiring an additional 2,824 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in WESCO International by 1.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 192,056 shares of the technology company’s stock worth $30,445,000 after acquiring an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Stock Down 0.7 %

WESCO International stock opened at $157.80 on Friday. The stock has a market capitalization of $7.76 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.30 and a beta of 2.06. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The business has a 50 day simple moving average of $162.88 and a 200-day simple moving average of $165.54. 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 (NYSE:WCC) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.71 earnings per share. On average, analysts anticipate that WESCO International will post 12.1 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, June 14th. WESCO International’s payout ratio is currently 13.74%.

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).