Wesco Aircraft Holdings, Inc. (NYSE:WAIR) Cut to “Hold” at BidaskClub

Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, November 7th.

Other equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Wesco Aircraft from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. TheStreet cut shares of Wesco Aircraft from a “c” rating to a “d+” rating in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Wesco Aircraft from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 12th. Cowen Inc reaffirmed a “hold” rating on shares of Wesco Aircraft in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $12.00 target price on shares of Wesco Aircraft in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Wesco Aircraft has a consensus rating of “Hold” and a consensus price target of $10.60.

Wesco Aircraft (WAIR) remained flat at $$8.00 during trading hours on Tuesday. The company had a trading volume of 313,997 shares, compared to its average volume of 276,904. Wesco Aircraft has a one year low of $6.95 and a one year high of $15.77. The company has a market cap of $796.63, a PE ratio of 10.00, a P/E/G ratio of 0.87 and a beta of 0.74. The company has a current ratio of 4.06, a quick ratio of 1.19 and a debt-to-equity ratio of 1.16.

In other Wesco Aircraft news, major shareholder Makaira Partners Llc bought 79,184 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $8.06 per share, with a total value of $638,223.04. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Weller bought 8,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $8.05 per share, for a total transaction of $64,400.00. Following the completion of the acquisition, the insider now directly owns 42,901 shares in the company, valued at $345,353.05. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 112,147 shares of company stock worth $911,975. 10.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WAIR. Bank of New York Mellon Corp boosted its position in shares of Wesco Aircraft by 7.1% during the 1st quarter. Bank of New York Mellon Corp now owns 333,048 shares of the aerospace company’s stock worth $3,797,000 after purchasing an additional 22,034 shares in the last quarter. American International Group Inc. boosted its position in shares of Wesco Aircraft by 7.0% in the 1st quarter. American International Group Inc. now owns 34,261 shares of the aerospace company’s stock worth $391,000 after buying an additional 2,255 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Wesco Aircraft by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 133,157 shares of the aerospace company’s stock worth $1,518,000 after buying an additional 3,706 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Wesco Aircraft by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,515,524 shares of the aerospace company’s stock worth $51,477,000 after buying an additional 188,914 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Wesco Aircraft by 11.1% in the 1st quarter. Geode Capital Management LLC now owns 474,508 shares of the aerospace company’s stock worth $5,408,000 after buying an additional 47,335 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

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Wesco Aircraft 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.

Analyst Recommendations for Wesco Aircraft (NYSE:WAIR)

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