Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $11.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.79% from the stock’s previous close.

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. “

A number of other research firms also recently weighed in on WAIR. Cowen and Company restated a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 target price on shares of Wesco Aircraft Holdings in a report on Sunday, July 23rd. ValuEngine upgraded shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. BidaskClub upgraded shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $12.00 target price on shares of Wesco Aircraft Holdings in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $10.60.

Shares of Wesco Aircraft Holdings (NYSE WAIR) traded up 0.53% during mid-day trading on Thursday, reaching $9.50. 463,005 shares of the company were exchanged. The company’s market capitalization is $946.00 million. The firm’s 50-day moving average is $9.16 and its 200-day moving average is $9.80. Wesco Aircraft Holdings has a 12 month low of $6.95 and a 12 month high of $15.77.

Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The business had revenue of $363.90 million for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. On average, equities analysts forecast that Wesco Aircraft Holdings will post $0.69 earnings per share for the current fiscal year.

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In related news, Director Thomas Bancroft purchased 27,841 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $7.70 per share, for a total transaction of $214,375.70. Following the transaction, the director now directly owns 13,487 shares of the company’s stock, valued at approximately $103,849.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Renehan purchased 5,100 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average price 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 $267,820.20. The disclosure for this purchase can be found here. Insiders purchased a total of 1,068,719 shares of company stock worth $8,385,130 in the last quarter. Insiders own 10.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in 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 purchasing an additional 661 shares during the last quarter. Makaira Partners LLC grew its position in 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 purchasing an additional 1,474,630 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in 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 purchasing an additional 23,617 shares during the last quarter. State Street Corp grew its position in 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 purchasing an additional 214,402 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in 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 purchasing an additional 5,376 shares during the last quarter. Institutional investors own 93.73% 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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