Wesco Aircraft Holdings’ (WAIR) “Buy” Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their buy rating on shares of Wesco Aircraft Holdings, Inc. (NYSE:WAIR) in a research report sent to investors on Monday. They currently have a $12.00 price target on the aerospace company’s stock.
Several other research firms have also weighed in on WAIR. Zacks Investment Research lowered shares of Wesco Aircraft Holdings from a hold rating to a strong sell rating in a research report on Saturday, July 22nd. BidaskClub lowered shares of Wesco Aircraft Holdings from a buy rating to a hold rating in a research report on Friday, July 28th. Jefferies Group LLC restated a hold rating and set a $9.00 price objective on shares of Wesco Aircraft Holdings in a research report on Sunday, July 23rd. Cowen and Company restated a hold rating and set a $9.00 price objective on shares of Wesco Aircraft Holdings in a research report on Monday, July 17th. Finally, ValuEngine upgraded shares of Wesco Aircraft Holdings from a hold rating to a buy rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $11.80.
Wesco Aircraft Holdings (NYSE:WAIR) opened at 9.55 on Monday. The firm’s market cap is $950.98 million. Wesco Aircraft Holdings has a 12 month low of $6.95 and a 12 month high of $15.77. The firm’s 50-day moving average is $8.69 and its 200-day moving average is $9.96.
Wesco Aircraft Holdings (NYSE:WAIR) last posted its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.12). Wesco Aircraft Holdings had a negative net margin of 12.26% and a positive return on equity of 9.42%. The business had revenue of $363.90 million for the quarter, compared to the consensus estimate of $379.32 million. During the same quarter last year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts expect that Wesco Aircraft Holdings will post $0.69 earnings per share for the current year.
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In other news, Director Thomas Bancroft bought 27,841 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $7.70 per share, for a total transaction of $214,375.70. Following the completion of the acquisition, the director now directly owns 13,487 shares in the company, valued at approximately $103,849.90. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Renehan bought 5,100 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average price of $7.79 per share, with a total value of $39,729.00. Following the completion of the acquisition, the chief executive officer now owns 34,380 shares of the company’s stock, valued at $267,820.20. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,068,719 shares of company stock valued at $8,385,130. Corporate insiders own 10.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in shares of Wesco Aircraft Holdings in the first quarter worth about $123,000. Aperio Group LLC acquired a new position in shares of Wesco Aircraft Holdings in the second quarter worth about $186,000. HighTower Advisors LLC boosted its holdings in shares of Wesco Aircraft Holdings by 1.9% in the first quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock worth $221,000 after buying an additional 368 shares during the period. Ramsey Quantitative Systems acquired a new position in shares of Wesco Aircraft Holdings in the second quarter worth about $278,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Wesco Aircraft Holdings by 26.1% in the second quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock worth $282,000 after buying an additional 5,376 shares during the period. Institutional investors own 93.73% of the company’s stock.
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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