Wesco Aircraft Holdings, Inc. (WAIR) Upgraded at ValuEngine
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Cowen and Company reiterated a “hold” rating and issued a $9.00 target price on shares of Wesco Aircraft Holdings in a report on Monday, July 17th. Zacks Investment Research upgraded Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC upped their target price on Wesco Aircraft Holdings from $8.00 to $11.00 and gave the stock an “underperform” rating in a report on Wednesday, May 10th. Finally, Citigroup Inc. cut Wesco Aircraft Holdings from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Wesco Aircraft Holdings presently has an average rating of “Hold” and a consensus target price of $13.14.
Wesco Aircraft Holdings (NYSE:WAIR) traded up 2.83% during mid-day trading on Tuesday, hitting $10.90. The stock had a trading volume of 406,521 shares. The stock’s 50-day moving average price is $10.45 and its 200-day moving average price is $11.57. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 13.81 and a beta of 0.69. 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 issued its earnings results on Tuesday, May 9th. The aerospace company reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Wesco Aircraft Holdings had a return on equity of 11.03% and a net margin of 5.39%. The business had revenue of $364.60 million during the quarter, compared to analysts’ expectations of $367.92 million. During the same period in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts predict that Wesco Aircraft Holdings will post $0.85 earnings per share for the current year.
In related news, Director Thomas Bancroft purchased 246,510 shares of Wesco Aircraft Holdings stock in a transaction dated Monday, June 5th. The stock was purchased at an average cost of $9.83 per share, with a total value of $2,423,193.30. Following the transaction, the director now owns 13,487 shares in the company, valued at approximately $132,577.21. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders bought 1,396,510 shares of company stock valued at $12,570,693. Corporate insiders own 10.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in WAIR. Legato Capital Management LLC acquired a new position in shares of Wesco Aircraft Holdings during the second quarter valued at about $1,633,000. Aperio Group LLC acquired a new position in shares of Wesco Aircraft Holdings during the second quarter valued at about $186,000. Eqis Capital Management Inc. raised its position in shares of Wesco Aircraft Holdings by 6.1% in the second quarter. Eqis Capital Management Inc. now owns 41,172 shares of the aerospace company’s stock valued at $447,000 after buying an additional 2,350 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Wesco Aircraft Holdings during the first quarter valued at about $334,000. Finally, HighTower Advisors LLC raised its position 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 valued at $221,000 after buying an additional 368 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.
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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