Zacks Investment Research Lowers Wesco Aircraft Holdings, Inc. (NYSE:WAIR) to Strong Sell
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.
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. “
Several other equities research analysts have also recently issued reports on WAIR. Jefferies Group LLC reissued a “sell” rating and issued a $13.00 price objective on shares of Wesco Aircraft Holdings in a research report on Tuesday, April 18th. Citigroup Inc. cut shares of Wesco Aircraft Holdings from a “buy” rating to a “neutral” rating in a research report on Monday, May 1st. ValuEngine cut shares of Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Wesco Aircraft Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, 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, July 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $13.14.
Wesco Aircraft Holdings (WAIR) opened at 11.00 on Friday. Wesco Aircraft Holdings has a 1-year low of $7.46 and a 1-year high of $15.77. The company has a 50-day moving average of $10.40 and a 200-day moving average of $11.66. The company has a market capitalization of $1.10 billion, a P/E ratio of 13.94 and a beta of 0.69.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings results on Tuesday, May 9th. The aerospace company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Wesco Aircraft Holdings had a net margin of 5.39% and a return on equity of 11.03%. The firm had revenue of $364.60 million during the quarter, compared to analysts’ expectations of $367.92 million. During the same period in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that Wesco Aircraft Holdings will post $0.85 EPS for the current fiscal year.
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In other Wesco Aircraft Holdings news, Director Thomas Bancroft purchased 1,000,000 shares of Wesco Aircraft Holdings stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average price of $8.73 per share, for a total transaction of $8,730,000.00. Following the acquisition, the director now owns 13,487 shares in the company, valued at approximately $117,741.51. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders acquired 1,396,510 shares of company stock valued at $12,570,693. 10.30% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of WAIR. Victory Capital Management Inc. acquired a new stake in Wesco Aircraft Holdings during the first quarter valued at approximately $123,000. Aperio Group LLC acquired a new stake in Wesco Aircraft Holdings during the second quarter valued at approximately $186,000. HighTower Advisors LLC raised its stake in Wesco Aircraft Holdings by 1.9% in the first quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock valued at $221,000 after buying an additional 368 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in 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 valued at $298,000 after buying an additional 17,777 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Wesco Aircraft Holdings during the first quarter valued at approximately $330,000. Institutional investors and hedge funds own 88.08% 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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