$374.72 Million in Sales Expected for Wesco Aircraft Holdings, Inc. (WAIR) This Quarter
Wall Street brokerages forecast that Wesco Aircraft Holdings, Inc. (NYSE:WAIR) will announce sales of $374.72 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Wesco Aircraft Holdings’ earnings. The highest sales estimate is $375.80 million and the lowest is $373.64 million. Wesco Aircraft Holdings reported sales of $375.19 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.1%. The company is scheduled to report its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that Wesco Aircraft Holdings will report full-year sales of $374.72 million for the current financial year, with estimates ranging from $1.46 billion to $1.50 billion. For the next year, analysts anticipate that the firm will post sales of $1.51 billion per share, with estimates ranging from $1.50 billion to $1.51 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Wesco Aircraft Holdings.
Wesco Aircraft Holdings (NYSE:WAIR) last issued its earnings results on Tuesday, May 9th. The aerospace company reported $0.21 EPS for the quarter, meeting the 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 for the quarter, compared to the consensus estimate of $367.92 million. During the same period last year, the business posted $0.29 EPS. The company’s revenue was down 3.2% compared to the same quarter last year.
Several brokerages recently commented on WAIR. ValuEngine upgraded shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a research note on Sunday. Zacks Investment Research lowered shares of Wesco Aircraft Holdings from a “hold” rating to a “strong sell” rating in a research note on Saturday. Cowen and Company reiterated a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a research note on Monday, July 17th. Finally, BidaskClub upgraded shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Wesco Aircraft Holdings currently has an average rating of “Hold” and an average target price of $13.14.
In other news, Director Thomas Bancroft purchased 1,000,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $8,730,000.00. Following the completion of the purchase, the director now directly owns 13,487 shares in the company, valued at approximately $117,741.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have bought 1,396,510 shares of company stock worth $12,570,693. Company insiders own 10.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of Wesco Aircraft Holdings during the first quarter valued at about $123,000. Aperio Group LLC purchased a new position in Wesco Aircraft Holdings during the second quarter worth $186,000. HighTower Advisors LLC raised its position 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 worth $221,000 after buying an additional 368 shares in the last quarter. Great West Life Assurance Co. Can raised its position 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 worth $298,000 after buying an additional 17,777 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Wesco Aircraft Holdings during the first quarter worth $330,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wesco Aircraft Holdings (NYSE WAIR) traded down 3.440% during mid-day trading on Wednesday, reaching $10.525. The company’s stock had a trading volume of 164,016 shares. Wesco Aircraft Holdings has a one year low of $7.46 and a one year high of $15.78. The firm has a market cap of $1.05 billion, a PE ratio of 13.340 and a beta of 0.69. The firm’s 50 day moving average is $10.45 and its 200 day moving average is $11.57.
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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