Wesco Aircraft Holdings Reaches New 12-Month Low After Earnings Miss (WAIR)
Wesco Aircraft Holdings (NASDAQ:WAIR) shares reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings, Stock Ratings Network.com reports. The company traded as low as $17.97 and last traded at $18.14, with a volume of 656,094 shares traded. The stock had previously closed at $19.01.
The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.37 by $0.03. The company had revenue of $395.60 million for the quarter, compared to the consensus estimate of $405.82 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 71.9% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Wesco Aircraft Holdings in a research note on Tuesday. They now have a $24.00 price target on the stock, down previously from $25.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Wesco Aircraft Holdings in a research note on Tuesday. They now have a $26.00 price target on the stock, down previously from $28.00. Finally, analysts at RBC Capital cut their price target on shares of Wesco Aircraft Holdings from $27.00 to $23.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.64.
The stock has a 50-day moving average of $19.80 and a 200-day moving average of $20.99. The company has a market cap of $1.747 billion and a P/E ratio of 17.46.
Wesco Aircraft Holdings, Inc, formerly Wesco Holdings, Inc, a holding company for Wesco Aircraft Hardware Corp.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.