Wesco Aircraft (NYSE:WAIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

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. “

Other research analysts have also issued reports about the stock. Cowen reissued a “hold” rating and set a $11.50 target price on shares of Wesco Aircraft in a research note on Friday, August 9th. ValuEngine lowered shares of Wesco Aircraft from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Finally, UBS Group raised shares of Wesco Aircraft from a “sell” rating to a “neutral” rating and increased their target price for the stock from $9.75 to $11.05 in a research note on Monday, August 12th.

NYSE WAIR traded down $0.01 on Thursday, hitting $10.97. 22,571 shares of the company were exchanged, compared to its average volume of 1,317,296. The company has a market cap of $1.10 billion, a PE ratio of 14.63, a PEG ratio of 1.07 and a beta of 0.44. Wesco Aircraft has a 12 month low of $7.38 and a 12 month high of $11.79. The stock has a fifty day moving average of $10.84 and a 200-day moving average of $9.90. The company has a current ratio of 3.84, a quick ratio of 1.20 and a debt-to-equity ratio of 1.05.

Wesco Aircraft (NYSE:WAIR) last issued its earnings results on Friday, August 9th. The aerospace company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $442.37 million for the quarter, compared to analyst estimates of $435.60 million. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.41%. Wesco Aircraft’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, analysts expect that Wesco Aircraft will post 0.85 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its holdings in shares of Wesco Aircraft by 125.0% in the second quarter. Prudential Financial Inc. now owns 609,350 shares of the aerospace company’s stock valued at $6,764,000 after purchasing an additional 338,566 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Wesco Aircraft in the first quarter valued at about $4,457,000. Aperio Group LLC increased its holdings in Wesco Aircraft by 4.3% during the second quarter. Aperio Group LLC now owns 97,031 shares of the aerospace company’s stock worth $1,077,000 after buying an additional 3,984 shares during the last quarter. First Quadrant L P CA purchased a new stake in Wesco Aircraft during the second quarter worth about $38,000. Finally, Rutabaga Capital Management LLC MA increased its holdings in Wesco Aircraft by 20.0% during the first quarter. Rutabaga Capital Management LLC MA now owns 1,414,405 shares of the aerospace company’s stock worth $12,433,000 after buying an additional 235,603 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wesco Aircraft Company Profile

Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in North America and internationally. Its services include distribution, supplier relationships management, quality assurance, kitting, just-in-time delivery, chemical management, third-party logistics or fourth-party logistics program, and point-of-use inventory management.

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