Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Wesco Aircraft Holdings from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 22nd. Jefferies Group LLC set a $9.00 price objective on shares of Wesco Aircraft Holdings and gave the company a “hold” rating in a research note on Friday, June 16th. ValuEngine cut shares of Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reiterated a “hold” rating and issued a $9.00 price objective on shares of Wesco Aircraft Holdings in a research note on Monday, July 17th. Finally, TheStreet cut shares of Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.14.
Wesco Aircraft Holdings (NYSE WAIR) opened at 8.85 on Friday. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.77. The firm has a 50-day moving average of $8.70 and a 200-day moving average of $10.19. The stock’s market cap is $881.27 million.
Wesco Aircraft Holdings (NYSE:WAIR) last released its earnings results on Tuesday, August 8th. The aerospace company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.12). Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. The firm had revenue of $363.90 million during the quarter, compared to analyst estimates of $379.32 million. During the same quarter last year, the business posted $0.29 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Wesco Aircraft Holdings will post $0.69 earnings per share for the current fiscal year.
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In other Wesco Aircraft Holdings news, CFO Richard Weller bought 4,863 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $38,904.00. Following the acquisition, the chief financial officer now owns 42,901 shares of the company’s stock, valued at approximately $343,208. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Bancroft bought 369,359 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were acquired at an average price of $7.79 per share, with a total value of $2,877,306.61. Following the completion of the acquisition, the director now directly owns 13,487 shares in the company, valued at approximately $105,063.73. The disclosure for this purchase can be found here. Insiders purchased 1,068,719 shares of company stock valued at $8,385,130 in the last quarter. Company insiders own 10.30% of the company’s stock.
Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in Wesco Aircraft Holdings during the 1st quarter valued at about $123,000. Aperio Group LLC purchased a new position in Wesco Aircraft Holdings during the 2nd quarter valued at about $186,000. HighTower Advisors LLC increased its holdings in Wesco Aircraft Holdings by 1.9% during the 1st quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 368 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Wesco Aircraft Holdings during the 2nd quarter valued at about $278,000. Finally, Voya Investment Management LLC increased its holdings in Wesco Aircraft Holdings by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock valued at $282,000 after acquiring an additional 5,376 shares in the last quarter. Hedge funds and other 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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