Zacks Investment Research upgraded shares of Wesco Aircraft Holdings, Inc. (NYSE:WAIR) from a strong sell rating to a hold rating in a research report sent to investors on Thursday, October 5th.
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 analysts have also issued reports about the stock. BidaskClub raised shares of Wesco Aircraft Holdings from a hold rating to a buy rating in a research report on Wednesday, July 5th. Cowen and Company reissued a hold rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a research report on Monday, July 17th. Jefferies Group LLC set a $9.00 price target on shares of Wesco Aircraft Holdings and gave the company a hold rating in a research report on Friday, June 16th. TheStreet lowered shares of Wesco Aircraft Holdings from a c rating to a d+ rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Wesco Aircraft Holdings from a hold rating to a buy rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $10.50.
Wesco Aircraft Holdings (NYSE:WAIR) opened at 9.45 on Thursday. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.77. The firm has a 50-day moving average of $9.00 and a 200 day moving average of $9.85. The company’s market capitalization is $941.02 million.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $379.32 million. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Wesco Aircraft Holdings will post $0.69 EPS for the current fiscal year.
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In other Wesco Aircraft Holdings news, Director Thomas Bancroft bought 369,359 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average price of $7.79 per share, for a total transaction of $2,877,306.61. Following the transaction, the director now directly owns 13,487 shares of the company’s stock, valued at approximately $105,063.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Renehan bought 5,100 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $7.79 per share, for a total transaction of $39,729.00. Following the transaction, the chief executive officer now directly owns 34,380 shares in the company, valued at $267,820.20. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,068,719 shares of company stock worth $8,385,130. Insiders own 10.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. purchased a new position in Wesco Aircraft Holdings in the 1st quarter valued at $123,000. Aperio Group LLC acquired a new stake in shares of Wesco Aircraft Holdings in the 2nd quarter worth $186,000. HighTower Advisors LLC increased 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 worth $221,000 after acquiring an additional 368 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Wesco Aircraft Holdings in the 2nd quarter worth $278,000. Finally, Voya Investment Management LLC increased 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 worth $282,000 after acquiring an additional 5,376 shares during the last quarter. Institutional investors own 93.73% of the company’s stock.
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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