Wesco Aircraft Holdings Inc (NYSE:WAIR) – Equities research analysts at SunTrust Banks boosted their FY2018 earnings estimates for shares of Wesco Aircraft in a report issued on Monday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will earn $0.73 per share for the year, up from their previous estimate of $0.68. SunTrust Banks has a “Buy” rating and a $12.00 price target on the stock. SunTrust Banks also issued estimates for Wesco Aircraft’s FY2019 earnings at $1.07 EPS.
Wesco Aircraft (NYSE:WAIR) last announced its earnings results on Tuesday, November 28th. The aerospace company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.11). The firm had revenue of $361.60 million during the quarter, compared to analyst estimates of $363.20 million. Wesco Aircraft had a negative net margin of 16.60% and a positive return on equity of 7.37%. Wesco Aircraft’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share.
Shares of Wesco Aircraft (WAIR) remained flat at $$7.60 on Wednesday. 438,100 shares of the company were exchanged, compared to its average volume of 373,800. The company has a market capitalization of $756.38, a price-to-earnings ratio of -3.17, a P/E/G ratio of 0.99 and a beta of 0.66. Wesco Aircraft has a 1 year low of $6.05 and a 1 year high of $15.55. The company has a quick ratio of 1.11, a current ratio of 3.87 and a debt-to-equity ratio of 1.22.
In related news, EVP Declan O. Grant acquired 7,170 shares of the stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $6.94 per share, for a total transaction of $49,759.80. Following the completion of the purchase, the executive vice president now owns 70,760 shares of the company’s stock, valued at approximately $491,074.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Wesco Aircraft by 1.5% during the second 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. Rhumbline Advisers raised its holdings in shares of Wesco Aircraft by 2.4% during the second quarter. Rhumbline Advisers now owns 74,448 shares of the aerospace company’s stock worth $808,000 after purchasing an additional 1,731 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Wesco Aircraft by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,661 shares of the aerospace company’s stock worth $137,000 after purchasing an additional 1,898 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Wesco Aircraft by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 248,053 shares of the aerospace company’s stock worth $2,692,000 after purchasing an additional 2,141 shares during the last quarter. Finally, Global Endowment Management LP raised its holdings in shares of Wesco Aircraft by 10.4% during the second quarter. Global Endowment Management LP now owns 41,540 shares of the aerospace company’s stock worth $450,000 after purchasing an additional 3,900 shares during the last quarter. 94.88% of the stock is owned by hedge funds and other institutional investors.
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Wesco Aircraft 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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