Wesco Aircraft Holdings Inc. (WAIR) Upgraded by Rosenblatt Securities to “Buy”
Wesco Aircraft Holdings Inc. (NYSE:WAIR) was upgraded by equities researchers at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $17.00 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 25.83% from the stock’s previous close.
A number of other brokerages have also recently weighed in on WAIR. Jefferies Group cut Wesco Aircraft Holdings from a “hold” rating to an “underperform” rating and dropped their price target for the company from $14.00 to $12.00 in a research report on Monday, July 18th. Zacks Investment Research cut Wesco Aircraft Holdings from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, KeyCorp restated a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, September 28th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.58.
Shares of Wesco Aircraft Holdings (NYSE:WAIR) traded down 1.46% during mid-day trading on Friday, reaching $13.51. 483,928 shares of the company traded hands. The stock’s market capitalization is $1.33 billion. Wesco Aircraft Holdings has a 52-week low of $9.91 and a 52-week high of $15.07. The company’s 50 day moving average is $13.68 and its 200 day moving average is $13.90.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm earned $375.20 million during the quarter, compared to analysts’ expectations 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 was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, equities analysts forecast that Wesco Aircraft Holdings will post $1.12 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Atria Investments LLC acquired a new stake in shares of Wesco Aircraft Holdings during the second quarter worth about $154,000. Janney Montgomery Scott LLC acquired a new stake in shares of Wesco Aircraft Holdings during the second quarter worth about $182,000. Principal Financial Group Inc. raised its stake in shares of Wesco Aircraft Holdings by 8.0% in the second quarter. Principal Financial Group Inc. now owns 13,836 shares of the company’s stock worth $186,000 after buying an additional 1,023 shares during the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Wesco Aircraft Holdings during the second quarter worth about $193,000. Finally, BlackRock Inc. raised its stake in shares of Wesco Aircraft Holdings by 254.6% in the second quarter. BlackRock Inc. now owns 14,860 shares of the company’s stock worth $199,000 after buying an additional 10,669 shares during the last quarter. 89.27% of the stock is currently owned by institutional investors and hedge funds.
Wesco Aircraft Holdings Company Profile
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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