Wesco Aircraft Holdings, Inc. (WAIR) Raised to “Buy” at BidaskClub
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other equities analysts have also recently weighed in on WAIR. TheStreet cut Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a report on Tuesday, August 8th. ValuEngine cut Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Cowen and Company reiterated a “hold” rating on shares of Wesco Aircraft Holdings in a report on Wednesday, August 9th. Zacks Investment Research upgraded Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a report on Sunday, July 23rd. 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 currently has an average rating of “Hold” and a consensus target price of $13.14.
Shares of Wesco Aircraft Holdings (WAIR) opened at 8.85 on Friday. The stock’s 50 day moving average is $8.70 and its 200-day moving average is $10.19. Wesco Aircraft Holdings has a 52 week low of $6.95 and a 52 week high of $15.77. The stock’s market capitalization is $881.27 million.
Wesco Aircraft Holdings (NYSE:WAIR) last issued its earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The company had revenue of $363.90 million during the quarter, compared to analyst estimates of $379.32 million. Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. On average, analysts anticipate that Wesco Aircraft Holdings will post $0.69 earnings per share for the current fiscal year.
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In other news, major shareholder Makaira Partners Llc bought 20,100 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was bought at an average cost of $8.48 per share, for a total transaction of $170,448.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Bancroft bought 27,841 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $7.70 per share, with a total value of $214,375.70. Following the completion of the acquisition, the director now directly owns 13,487 shares in the company, valued at $103,849.90. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,068,719 shares of company stock valued at $8,385,130 over the last 90 days. 10.30% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new position in Wesco Aircraft Holdings during the 1st quarter valued at about $3,721,000. Quantbot Technologies LP purchased a new position in Wesco Aircraft Holdings during the 1st quarter valued at about $548,000. Chartwell Investment Partners LLC boosted its holdings in Wesco Aircraft Holdings by 316.9% during the 1st quarter. Chartwell Investment Partners LLC now owns 224,081 shares of the aerospace company’s stock valued at $2,555,000 after acquiring an additional 170,338 shares during the period. Menta Capital LLC purchased a new position in Wesco Aircraft Holdings during the 1st quarter valued at about $1,256,000. Finally, Legato Capital Management LLC purchased a new position in Wesco Aircraft Holdings during the 2nd quarter valued at about $1,633,000. Institutional investors own 93.73% 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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