Wesco Aircraft Holdings Inc. (WAIR) Receives Hold Rating from KeyCorp
Several other research firms have also commented on WAIR. Jefferies Group lowered Wesco Aircraft Holdings from a hold rating to an underperform rating and dropped their target price for the company from $14.00 to $12.00 in a report on Monday, July 18th. Rosenblatt Securities dropped their target price on Wesco Aircraft Holdings from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $12.75.
Shares of Wesco Aircraft Holdings (NYSE:WAIR) traded up 0.5163% during mid-day trading on Wednesday, reaching $13.6099. The company’s stock had a trading volume of 15,797 shares. The firm’s 50-day moving average price is $13.71 and its 200 day moving average price is $13.92. The firm’s market cap is $1.34 billion. Wesco Aircraft Holdings has a 12-month low of $9.91 and a 12-month high of $15.07.
Wesco Aircraft Holdings (NYSE:WAIR) last posted its earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $375.20 million for the quarter, compared to analyst estimates of $381.12 million. Wesco Aircraft Holdings had a positive return on equity of 12.72% and a negative net margin of 9.85%. Wesco Aircraft Holdings’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, analysts expect that Wesco Aircraft Holdings will post $1.12 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of WAIR. Makaira Partners LLC bought a new position in shares of Wesco Aircraft Holdings during the first quarter worth about $115,393,000. Frontier Capital Management Co. LLC boosted its position in shares of Wesco Aircraft Holdings by 51.7% in the second quarter. Frontier Capital Management Co. LLC now owns 3,376,015 shares of the company’s stock worth $45,306,000 after buying an additional 1,150,687 shares during the period. Alliancebernstein L.P. boosted its position in shares of Wesco Aircraft Holdings by 1,394.2% in the second quarter. Alliancebernstein L.P. now owns 1,202,801 shares of the company’s stock worth $16,142,000 after buying an additional 1,122,301 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Wesco Aircraft Holdings during the second quarter worth about $12,180,000. Finally, Norges Bank bought a new position in shares of Wesco Aircraft Holdings during the fourth quarter worth about $8,133,000. 89.27% of the stock is owned by institutional investors.
About Wesco Aircraft Holdings
Wesco Aircraft Holdings, Inc is a distributor and provider of supply chain management services to the global aerospace industry. The Company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time (JIT) delivery and point-of-use inventory management.
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