Wesco Aircraft Holdings, Inc. (WAIR) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Wesco Aircraft Holdings, Inc. (NYSE:WAIR) from a strong sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Wesco Aircraft Holdings, Inc. distributes and provides supply chain management services to the global aerospace industry. It offers inventory of aerospace parts, including hardware, bearings, tools, electronic components and machined parts. The Company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management. Wesco Aircraft Holdings, Inc. is headquartered in Valencia, California. “
A number of other equities analysts have also recently issued reports on WAIR. SunTrust Banks, Inc. reiterated a buy rating and issued a $12.00 price objective on shares of Wesco Aircraft Holdings in a report on Monday, October 2nd. TheStreet cut Wesco Aircraft Holdings from a c rating to a d+ rating in a report on Tuesday, August 8th. BidaskClub upgraded Wesco Aircraft Holdings from a buy rating to a strong-buy rating in a report on Wednesday, September 27th. Cowen and Company reiterated a hold rating on shares of Wesco Aircraft Holdings in a report on Wednesday, August 9th. Finally, ValuEngine cut Wesco Aircraft Holdings from a buy rating to a hold rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $10.50.
Shares of Wesco Aircraft Holdings (NYSE:WAIR) opened at 9.75 on Thursday. The stock’s 50 day moving average price is $8.80 and its 200 day moving average price is $9.94. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.78. The firm’s market capitalization is $970.90 million.
Wesco Aircraft Holdings (NYSE:WAIR) last posted its earnings results on Tuesday, August 8th. The aerospace company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.12). Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. The business had revenue of $363.90 million for the quarter, compared to analysts’ expectations of $379.32 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Wesco Aircraft Holdings’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that Wesco Aircraft Holdings will post $0.69 earnings per share for the current year.
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In related news, CEO Todd Renehan bought 5,100 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $7.79 per share, with a total value of $39,729.00. Following the purchase, the chief executive officer now owns 34,380 shares in the company, valued at approximately $267,820.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Makaira Partners Llc bought 123,067 shares of the stock in a transaction dated Monday, August 21st. The stock was bought at an average cost of $7.81 per share, with a total value of $961,153.27. Following the purchase, the insider now owns 9,941,177 shares in the company, valued at approximately $77,640,592.37. The disclosure for this purchase can be found here. Insiders bought a total of 1,068,719 shares of company stock valued at $8,385,130 over the last quarter. Company insiders own 10.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAIR. Victory Capital Management Inc. bought a new stake in shares of Wesco Aircraft Holdings in the 1st quarter valued at about $123,000. Aperio Group LLC bought a new stake in shares of Wesco Aircraft Holdings in the 2nd quarter valued at about $186,000. HighTower Advisors LLC lifted its stake in shares of Wesco Aircraft Holdings by 1.9% in the 1st quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 368 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Wesco Aircraft Holdings in the 2nd quarter valued at about $278,000. Finally, Voya Investment Management LLC lifted its stake in shares of Wesco Aircraft Holdings by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock valued at $282,000 after acquiring an additional 5,376 shares during the last quarter. 93.73% of the stock is owned by 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 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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