Wesco Aircraft Holdings Inc. (WAIR) Upgraded by Rosenblatt Securities to Buy
Wesco Aircraft Holdings Inc. (NYSE:WAIR) was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $17.00 price objective on the stock. Rosenblatt Securities’ price target suggests a potential upside of 25.83% from the stock’s previous close.
WAIR has been the topic of a number of other reports. Zacks Investment Research lowered shares of Wesco Aircraft Holdings from a “hold” rating to a “sell” rating in a research report on Thursday. KeyCorp restated a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, September 28th. Finally, Jefferies Group lowered their price target on shares of Wesco Aircraft Holdings from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.58.
Shares of Wesco Aircraft Holdings (NYSE:WAIR) traded down 1.46% during trading on Friday, hitting $13.51. 483,928 shares of the stock were exchanged. Wesco Aircraft Holdings has a one year low of $9.91 and a one year high of $15.07. The company’s market cap is $1.33 billion. The stock’s 50 day moving average price is $13.68 and its 200-day moving average price is $13.90.
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Wesco Aircraft Holdings (NYSE:WAIR) last announced its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Wesco Aircraft Holdings had a negative net margin of 9.85% and a positive return on equity of 12.72%. The business had revenue of $375.20 million for the quarter, compared to analyst estimates of $381.12 million. During the same quarter last year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts predict that Wesco Aircraft Holdings will post $1.12 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Makaira Partners LLC bought a new stake in Wesco Aircraft Holdings during the first quarter worth about $115,393,000. Frontier Capital Management Co. LLC increased its stake in Wesco Aircraft Holdings by 51.7% in the second quarter. Frontier Capital Management Co. LLC now owns 3,376,015 shares of the company’s stock worth $45,306,000 after buying an additional 1,150,687 shares during the period. Alliancebernstein L.P. increased its stake in Wesco Aircraft Holdings by 1,394.2% in the second quarter. Alliancebernstein L.P. now owns 1,202,801 shares of the company’s stock worth $16,142,000 after buying an additional 1,122,301 shares during the period. Emerald Acquisition Ltd. bought a new stake in Wesco Aircraft Holdings during the second quarter worth about $12,180,000. Finally, Norges Bank bought a new stake in Wesco Aircraft Holdings during the fourth quarter worth about $8,133,000. Institutional investors own 89.27% of the company’s stock.
About Wesco Aircraft Holdings
Wesco Aircraft Holdings, Inc is a distributor and provider of supply chain management services to the global aerospace industry. The Company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time (JIT) delivery and point-of-use inventory management.
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