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 to clients and investors on Thursday.

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 weighed in on the stock. Jefferies Group LLC set a $9.00 price target on shares of Wesco Aircraft Holdings and gave the company a “hold” rating in a research report on Friday, June 16th. BidaskClub raised shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. ValuEngine raised shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company reissued a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a research report on Monday, July 17th. Finally, TheStreet cut shares of Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.50.

Wesco Aircraft Holdings (WAIR) opened at 9.15 on Thursday. The firm’s market cap is $911.15 million. The stock’s 50 day moving average is $8.90 and its 200-day moving average is $9.88. Wesco Aircraft Holdings has a one year low of $6.95 and a one year high of $15.77.

Wesco Aircraft Holdings (NYSE:WAIR) last announced its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 12.26% and a positive return on equity of 9.42%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, equities research analysts expect that Wesco Aircraft Holdings will post $0.70 earnings per share for the current fiscal year.

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In other Wesco Aircraft Holdings news, Director Thomas Bancroft purchased 369,359 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $7.79 per share, for a total transaction of $2,877,306.61. Following the purchase, the director now directly owns 13,487 shares in the company, valued at $105,063.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Makaira Partners Llc purchased 20,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was acquired at an average price of $8.48 per share, with a total value of $170,448.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,068,719 shares of company stock valued at $8,385,130. Corporate insiders own 10.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Wesco Aircraft Holdings by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,175 shares of the aerospace company’s stock worth $490,000 after acquiring an additional 661 shares in the last quarter. Makaira Partners LLC increased its stake in shares of Wesco Aircraft Holdings by 18.0% in the 2nd quarter. Makaira Partners LLC now owns 9,649,938 shares of the aerospace company’s stock worth $104,702,000 after acquiring an additional 1,474,630 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Wesco Aircraft Holdings by 42.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 78,919 shares of the aerospace company’s stock worth $837,000 after acquiring an additional 23,617 shares in the last quarter. State Street Corp increased its stake in shares of Wesco Aircraft Holdings by 11.9% in the 2nd quarter. State Street Corp now owns 2,014,604 shares of the aerospace company’s stock worth $21,861,000 after acquiring an additional 214,402 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Wesco Aircraft Holdings by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock worth $282,000 after acquiring an additional 5,376 shares in the last quarter. 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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