Zacks Investment Research Upgrades Wesco Aircraft (WAIR) to Hold
Wesco Aircraft (NYSE:WAIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
Other analysts also recently issued reports about the company. Cowen reaffirmed a “hold” rating and set a $7.00 price objective on shares of Wesco Aircraft in a research note on Wednesday, November 29th. BidaskClub downgraded Wesco Aircraft from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Longbow Research assumed coverage on Wesco Aircraft in a research note on Thursday, January 4th. They set a “neutral” rating for the company. ValuEngine raised Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Deutsche Bank raised Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price objective for the company in a research note on Thursday, November 30th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $9.30.
Wesco Aircraft (NYSE:WAIR) last posted its quarterly earnings data on Thursday, February 8th. The aerospace company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). The company had revenue of $363.10 million for the quarter, compared to analysts’ expectations of $346.96 million. Wesco Aircraft had a negative net margin of 17.26% and a positive return on equity of 7.17%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. analysts predict that Wesco Aircraft will post 0.64 earnings per share for the current fiscal year.
In other Wesco Aircraft news, EVP Declan O. Grant bought 7,170 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $6.94 per share, with a total value of $49,759.80. Following the purchase, the executive vice president now owns 70,760 shares in the company, valued at approximately $491,074.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Makaira Partners LLC increased its stake in Wesco Aircraft by 5.4% in the 3rd quarter. Makaira Partners LLC now owns 10,173,818 shares of the aerospace company’s stock valued at $95,634,000 after purchasing an additional 523,880 shares in the last quarter. BlackRock Inc. increased its stake in Wesco Aircraft by 12.6% in the 4th quarter. BlackRock Inc. now owns 7,665,112 shares of the aerospace company’s stock valued at $56,721,000 after purchasing an additional 856,046 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in Wesco Aircraft by 9.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,088,113 shares of the aerospace company’s stock valued at $57,228,000 after purchasing an additional 522,991 shares in the last quarter. Vanguard Group Inc. increased its stake in Wesco Aircraft by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,534,638 shares of the aerospace company’s stock valued at $49,201,000 after purchasing an additional 19,114 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Wesco Aircraft by 6.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,328,895 shares of the aerospace company’s stock valued at $40,691,000 after purchasing an additional 267,486 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
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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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