WESCO International (NYSE:WCC – Get Free Report) had its target price lifted by equities researchers at Loop Capital from $190.00 to $210.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Loop Capital’s price target suggests a potential upside of 22.01% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Stephens reissued an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on WESCO International from $175.00 to $171.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. 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. KeyCorp cut their price objective on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a 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 company. Based on data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and an average price target of $187.57.
Read Our Latest Research Report on WESCO International
WESCO International Stock Up 5.4 %
WESCO International (NYSE:WCC – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 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 for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the business earned $3.71 EPS. WESCO International’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts predict that WESCO International will post 12.14 EPS for the current fiscal year.
Institutional Investors Weigh In On WESCO International
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in WESCO International during the 1st quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of WESCO International by 71.1% during 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 during the period. GAMMA Investing LLC raised its holdings 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 acquiring an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in WESCO International in the second quarter worth about $152,000. Finally, TimesSquare Capital Management LLC bought a new position in WESCO International during the 1st quarter worth about $463,000. 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).
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