Wesco Aircraft Holdings Inc. (WAIR) Issues Quarterly Earnings Results
Wesco Aircraft Holdings Inc. (NYSE:WAIR) announced its quarterly earnings results on Thursday. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Wesco Aircraft Holdings had a positive return on equity of 12.72% and a negative net margin of 9.85%. The company had revenue of $365.60 million for the quarter, compared to the consensus estimate of $391.39 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Wesco Aircraft Holdings updated its FY17 guidance to $1.15-1.50 EPS.
Wesco Aircraft Holdings (NYSE:WAIR) opened at 14.45 on Friday. The company’s market capitalization is $1.42 billion. The company has a 50-day moving average price of $13.22 and a 200 day moving average price of $13.62. Wesco Aircraft Holdings has a 12 month low of $9.91 and a 12 month high of $15.07.
WAIR has been the subject of several research reports. KeyCorp reissued a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, September 28th. Rosenblatt Securities raised Wesco Aircraft Holdings from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Friday, October 7th. Zacks Investment Research cut Wesco Aircraft Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Finally, Jefferies Group reduced their price objective on Wesco Aircraft Holdings from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.58.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Wesco Aircraft Holdings during the third quarter valued at $119,000. Atria Investments LLC bought a new position in Wesco Aircraft Holdings during the second quarter valued at $154,000. Aperio Group LLC raised its position in Wesco Aircraft Holdings by 9.2% in the third quarter. Aperio Group LLC now owns 13,125 shares of the company’s stock valued at $176,000 after buying an additional 1,105 shares during the period. Janney Montgomery Scott LLC bought a new position in Wesco Aircraft Holdings during the second quarter valued at $182,000. Finally, Principal Financial Group Inc. raised its position in Wesco Aircraft Holdings by 8.0% in the second quarter. Principal Financial Group Inc. now owns 13,836 shares of the company’s stock valued at $186,000 after buying an additional 1,023 shares during the period. 89.58% of the stock is currently owned by hedge funds and other institutional investors.
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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