Wesco Aircraft (WAIR) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Wesco Aircraft (NYSE:WAIR) from a hold rating to a buy rating in a research note released on Saturday. Zacks Investment Research currently has $11.00 price target on the aerospace company’s stock.
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. “
WAIR has been the topic of several other research reports. ValuEngine upgraded shares of Wesco Aircraft from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Deutsche Bank upgraded shares of Wesco Aircraft from a sell rating to a hold rating and set a $7.50 price target on the stock in a research report on Thursday, November 30th. Longbow Research started coverage on shares of Wesco Aircraft in a research report on Thursday, January 4th. They set a neutral rating on the stock. Finally, Cowen reiterated a hold rating and issued a $7.00 target price on shares of Wesco Aircraft in a research report on Wednesday, November 29th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Wesco Aircraft presently has a consensus rating of Hold and a consensus price target of $9.30.
Wesco Aircraft (NYSE:WAIR) last released its quarterly earnings results on Thursday, February 8th. The aerospace company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $363.10 million for the quarter, compared to analyst estimates of $346.96 million. Wesco Aircraft had a negative net margin of 17.26% and a positive return on equity of 7.42%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. research analysts predict that Wesco Aircraft will post 0.7 earnings per share for the current year.
In related news, EVP Declan O. Grant bought 7,170 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $6.94 per share, for a total transaction of $49,759.80. Following the completion of the transaction, the executive vice president now directly owns 70,760 shares in the company, valued at $491,074.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Makaira Partners Llc bought 250,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $8.72 per share, for a total transaction of $2,180,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 900,780 shares of company stock worth $7,931,478. Company insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Makaira Partners LLC grew its position in shares of Wesco Aircraft by 5.4% in the third quarter. Makaira Partners LLC now owns 10,173,818 shares of the aerospace company’s stock valued at $95,634,000 after purchasing an additional 523,880 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Wesco Aircraft by 12.6% in the third quarter. Russell Investments Group Ltd. now owns 512,436 shares of the aerospace company’s stock worth $4,817,000 after buying an additional 57,300 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Wesco Aircraft in the third quarter worth about $997,000. Dimensional Fund Advisors LP lifted its stake in shares of Wesco Aircraft by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,328,895 shares of the aerospace company’s stock worth $40,691,000 after buying an additional 267,486 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Wesco Aircraft by 11.9% in the second quarter. State Street Corp now owns 2,014,604 shares of the aerospace company’s stock worth $21,861,000 after buying an additional 214,402 shares in the last quarter. Institutional investors and hedge funds own 88.23% of the company’s stock.
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About Wesco Aircraft
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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