Wesco Aircraft Holdings Inc (WAIR) Rating Lowered to Hold at ValuEngine
Wesco Aircraft Holdings Inc (NYSE:WAIR) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
WAIR has been the subject of several other reports. BidaskClub upgraded shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. TheStreet lowered shares of Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $9.00 target price on shares of Wesco Aircraft Holdings and gave the stock a “hold” rating in a research report on Friday, June 16th. Cowen and Company reiterated a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.14.
Shares of Wesco Aircraft Holdings (WAIR) remained flat at $7.75 during midday trading on Thursday. 534,497 shares of the company’s stock traded hands. The firm’s market cap is $771.74 million. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.77. The company’s 50-day moving average is $10.13 and its 200 day moving average is $10.91.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $363.90 million for the quarter, compared to analysts’ expectations of $379.32 million. Wesco Aircraft Holdings had a negative net margin of 63.10% and a negative return on equity of 114.84%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. Equities research analysts predict that Wesco Aircraft Holdings will post $0.69 EPS for the current fiscal year.
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In other Wesco Aircraft Holdings news, CEO Todd Renehan purchased 5,100 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $7.79 per share, for a total transaction of $39,729.00. Following the completion of the transaction, the chief executive officer now directly owns 34,380 shares in the company, valued at approximately $267,820.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas Bancroft purchased 27,841 shares of the business’s stock in a transaction on Monday, August 14th. The shares were acquired at an average price of $7.70 per share, with a total value of $214,375.70. Following the completion of the transaction, the director now owns 13,487 shares of the company’s stock, valued at $103,849.90. The disclosure for this purchase can be found here. Insiders purchased 1,047,208 shares of company stock valued at $8,907,125 over the last quarter. 10.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in shares of Wesco Aircraft Holdings during the first quarter valued at approximately $123,000. Aperio Group LLC purchased a new position in shares of Wesco Aircraft Holdings during the second quarter valued at approximately $186,000. HighTower Advisors LLC increased 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 during the period. Ramsey Quantitative Systems purchased a new position in shares of Wesco Aircraft Holdings during the second quarter valued at approximately $278,000. Finally, Voya Investment Management LLC increased its position in shares of Wesco Aircraft Holdings by 26.1% in the second quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock valued at $282,000 after buying an additional 5,376 shares during the period. Institutional investors and hedge funds own 88.96% 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 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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