Wesco Aircraft Holdings, Inc. (NYSE:WAIR) Receives Average Recommendation of “Hold” from Brokerages
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) has been given an average rating of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $12.67.
A number of analysts have recently commented on WAIR shares. 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 issued a $9.00 price objective on shares of Wesco Aircraft Holdings in a research report on Monday. Zacks Investment Research raised shares of Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC set a $9.00 price objective on shares of Wesco Aircraft Holdings and gave the stock a “hold” rating in a research report on Friday, June 16th. Finally, ValuEngine lowered shares of Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
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In other Wesco Aircraft Holdings news, Director Thomas Bancroft purchased 150,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $9.45 per share, for a total transaction of $1,417,500.00. Following the completion of the purchase, the director now owns 13,487 shares of the company’s stock, valued at approximately $127,452.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 1,396,510 shares of company stock worth $12,570,693 over the last three months. Insiders own 10.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in Wesco Aircraft Holdings during the first quarter valued at approximately $123,000. HighTower Advisors LLC increased its stake in shares of Wesco Aircraft Holdings by 1.9% in the first quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock worth $221,000 after buying an additional 368 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Wesco Aircraft Holdings by 211.6% in the first quarter. Great West Life Assurance Co. Can now owns 26,179 shares of the aerospace company’s stock worth $298,000 after buying an additional 17,777 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Wesco Aircraft Holdings during the first quarter worth about $330,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Wesco Aircraft Holdings during the first quarter worth about $334,000. Institutional investors and hedge funds own 88.08% of the company’s stock.
Shares of Wesco Aircraft Holdings (NYSE WAIR) traded down 0.92% during midday trading on Tuesday, hitting $10.80. 496,686 shares of the company traded hands. The stock has a market capitalization of $1.08 billion, a P/E ratio of 13.69 and a beta of 0.69. The stock’s 50-day moving average is $9.66 and its 200 day moving average is $12.09. Wesco Aircraft Holdings has a 12-month low of $7.46 and a 12-month high of $15.77.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings results on Tuesday, May 9th. The aerospace company reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The company had revenue of $364.60 million during the quarter, compared to analysts’ expectations of $367.92 million. Wesco Aircraft Holdings had a net margin of 5.39% and a return on equity of 11.03%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, analysts expect that Wesco Aircraft Holdings will post $0.85 earnings per share for the current year.
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 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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