Loop Capital Issues Pessimistic Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC - Get Free Report) had its price objective cut by research analysts at Loop Capital from $250.00 to $220.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Loop Capital's target price suggests a potential upside of 26.94% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. KeyCorp decreased their price objective on WESCO International from $245.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Stephens lifted their price target on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Oppenheimer reduced their price objective on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $216.57.

WESCO International Stock Performance

Shares of WESCO International stock traded up $2.07 during midday trading on Monday, hitting $173.31. The company had a trading volume of 426,726 shares, compared to its average volume of 750,426. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.45 and a beta of 1.92. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $157.58 and a 200 day simple moving average of $178.94. WESCO International has a 12-month low of $125.21 and a 12-month high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same quarter last year, the company posted $2.30 EPS. WESCO International's quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts predict that WESCO International will post 13.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in WESCO International by 5.5% in the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock valued at $216,000 after purchasing an additional 62 shares in the last quarter. V Square Quantitative Management LLC raised its position in WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock worth $43,000 after acquiring an additional 67 shares in the last quarter. GAMMA Investing LLC raised its position in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock worth $68,000 after acquiring an additional 75 shares in the last quarter. Parallel Advisors LLC raised its position in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after acquiring an additional 78 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock valued at $48,000 after buying an additional 81 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

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).