WESCO International (NYSE:WCC) Shares Gap Up to $159.78

Shares of WESCO International, Inc. (NYSE:WCC) gapped up before the market opened on Monday . The stock had previously closed at $159.78, but opened at $165.59. WESCO International shares last traded at $166.48, with a volume of 118,182 shares trading hands.

Analysts Set New Price Targets

WCC has been the subject of several analyst reports. Loop Capital lowered their price objective on WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Robert W. Baird reduced their target price on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp cut their price target on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, 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 note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, WESCO International presently has a consensus rating of “Moderate Buy” and an average price target of $184.71.

WESCO International Trading Up 3.0 %

The stock’s 50 day simple moving average is $161.60 and its two-hundred day simple moving average is $165.56. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The stock has a market capitalization of $8.09 billion, a PE ratio of 14.03, a PEG ratio of 1.28 and a beta of 2.03.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the company posted $3.71 earnings per share. On average, sell-side analysts expect that WESCO International, Inc. will post 12.17 EPS for the current year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in shares of WESCO International during the first quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC raised its position 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 worth $40,000 after buying an additional 100 shares in the last quarter. Innealta Capital LLC bought a new stake in WESCO International during the second quarter valued at $152,000. Finally, TimesSquare Capital Management LLC bought a new stake in WESCO International during the first quarter valued at $463,000. 93.76% of the stock is currently owned by hedge funds and other 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).