Wesco Aircraft (WAIR) Rating Increased to Hold at Zacks Investment Research

Wesco Aircraft (NYSE:WAIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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 research firms also recently issued reports on WAIR. BidaskClub downgraded Wesco Aircraft from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Cowen restated a “hold” rating and issued a $7.00 price target on shares of Wesco Aircraft in a research note on Wednesday, November 29th. Longbow Research started coverage on Wesco Aircraft in a research note on Thursday, January 4th. They issued a “neutral” rating for the company. ValuEngine upgraded Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Deutsche Bank upgraded Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 target price for the company in a research report on Thursday, November 30th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.30.

Wesco Aircraft (WAIR) traded up $0.27 on Tuesday, reaching $8.77. The company had a trading volume of 758,898 shares, compared to its average volume of 502,954. The company has a market cap of $830.94, a P/E ratio of -3.47, a PEG ratio of 1.09 and a beta of 0.58. Wesco Aircraft has a twelve month low of $6.05 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.87 and a quick ratio of 1.11.

Wesco Aircraft (NYSE:WAIR) last released its quarterly earnings results on Thursday, February 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The firm had revenue of $363.10 million during the quarter, compared to the consensus estimate of $346.96 million. Wesco Aircraft had a negative net margin of 17.26% and a positive return on equity of 7.17%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. sell-side analysts predict that Wesco Aircraft will post 0.64 EPS for the current year.

In related news, EVP Declan O. Grant bought 7,170 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average cost of $6.94 per share, for a total transaction of $49,759.80. Following the transaction, the executive vice president now owns 70,760 shares in the company, valued at approximately $491,074.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Wesco Aircraft by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,175 shares of the aerospace company’s stock worth $490,000 after buying an additional 661 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Wesco Aircraft by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,053 shares of the aerospace company’s stock worth $2,692,000 after buying an additional 2,141 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Wesco Aircraft by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock worth $282,000 after buying an additional 5,376 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Wesco Aircraft by 13.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 53,400 shares of the aerospace company’s stock worth $502,000 after buying an additional 6,500 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Wesco Aircraft by 0.5% during the 3rd quarter. Pzena Investment Management LLC now owns 1,559,373 shares of the aerospace company’s stock worth $14,658,000 after buying an additional 7,369 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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About Wesco Aircraft

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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