Oppenheimer Boosts WESCO International (NYSE:WCC) Price Target to $200.00

WESCO International (NYSE:WCC) had its target price lifted by Oppenheimer from $190.00 to $200.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research firms have also recently commented on WCC. JPMorgan Chase & Co. lowered their price target on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a report on Friday, March 15th. Royal Bank of Canada lowered WESCO International from an outperform rating to a sector perform rating and cut their target price for the stock from $202.00 to $173.00 in a research report on Tuesday, February 13th. KeyCorp upped their price target on WESCO International from $165.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. StockNews.com cut WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, Robert W. Baird cut their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $187.00.

WESCO International Stock Up 3.1 %

Shares of NYSE:WCC opened at $172.92 on Friday. The company has a market capitalization of $8.81 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.19 and a beta of 2.07. The stock’s fifty day simple moving average is $161.27 and its 200-day simple moving average is $160.10. WESCO International has a 52-week low of $122.30 and a 52-week high of $195.43. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.75 EPS. As a group, equities research analysts forecast that WESCO International will post 14.12 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.4125 per share. This is an increase from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. This represents a $1.65 annualized dividend and a yield of 0.95%. WESCO International’s payout ratio is 13.74%.

Insider Activity

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value 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 $5,253,922.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in WESCO International in the first quarter worth $26,000. KB Financial Partners LLC boosted its holdings in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after buying an additional 86 shares during the period. Anchor Investment Management LLC bought a new stake in shares of WESCO International during the 4th quarter valued at about $48,000. GAMMA Investing LLC acquired a new stake in WESCO International during the fourth quarter worth about $56,000. Finally, Richelieu Gestion SA acquired a new position in WESCO International in the fourth quarter valued at approximately $122,000. 93.76% of the stock is currently 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).