Wesco Aircraft Holdings Inc (WAIR) Receives Average Rating of “Hold” from Analysts
Wesco Aircraft Holdings Inc (NYSE:WAIR) has earned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.40.
WAIR has been the subject of a number of analyst reports. Jefferies Group LLC upgraded Wesco Aircraft Holdings from an “underperform” rating to a “hold” rating and upped their price target for the company from $8.00 to $9.00 in a research report on Monday, May 15th. Zacks Investment Research lowered Wesco Aircraft Holdings from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 22nd. BidaskClub upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. ValuEngine lowered Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company restated a “hold” rating and issued a $9.00 price target on shares of Wesco Aircraft Holdings in a research report on Monday, July 17th.
In other news, major shareholder Makaira Partners Llc purchased 123,067 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $7.81 per share, for a total transaction of $961,153.27. Following the completion of the purchase, the insider now directly owns 9,941,177 shares of the company’s stock, valued at $77,640,592.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Weller purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $8.05 per share, for a total transaction of $64,400.00. Following the completion of the purchase, the insider now directly owns 42,901 shares of the company’s stock, valued at $345,353.05. The disclosure for this purchase can be found here. Insiders purchased 1,068,719 shares of company stock worth $8,385,130 over the last quarter. 10.30% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in WAIR. Victory Capital Management Inc. acquired a new position in Wesco Aircraft Holdings during the first quarter worth $123,000. Aperio Group LLC acquired a new position in Wesco Aircraft Holdings during the second quarter worth $186,000. HighTower Advisors LLC lifted its stake in Wesco Aircraft Holdings by 1.9% during the first quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock worth $221,000 after purchasing an additional 368 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Wesco Aircraft Holdings during the second quarter worth $278,000. Finally, Voya Investment Management LLC lifted its stake in Wesco Aircraft Holdings by 26.1% during the second quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock worth $282,000 after purchasing an additional 5,376 shares in the last quarter. Institutional investors own 93.73% of the company’s stock.
Wesco Aircraft Holdings (NYSE:WAIR) traded up 1.74% during midday trading on Wednesday, hitting $8.75. The stock had a trading volume of 384,258 shares. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.77. The firm has a 50-day moving average of $8.92 and a 200-day moving average of $10.27. The company’s market cap is $871.32 million.
Wesco Aircraft Holdings (NYSE:WAIR) last posted its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.12. The company had revenue of $363.90 million during the quarter, compared to analysts’ expectations of $379.32 million. Wesco Aircraft Holdings had a negative net margin of 63.10% and a negative return on equity of 114.84%. Wesco Aircraft Holdings’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Equities research analysts forecast that Wesco Aircraft Holdings will post $0.69 EPS for the current year.
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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 operates through two segments: North America and Rest of World. As of September 30, 2016, the Company supplied over 565,000 active stock-keeping units (SKUs), including C-class hardware, chemicals, electronic components, bearings, tools and machined parts.
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