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

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

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 analysts also recently commented on the stock. ValuEngine raised shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a report on Friday. Deutsche Bank raised shares of Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price objective for the company in a report on Thursday. Cowen reissued a “hold” rating and set a $7.00 price objective on shares of Wesco Aircraft in a report on Wednesday, November 29th. BidaskClub downgraded shares of Wesco Aircraft from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $12.00 price target on shares of Wesco Aircraft in a report on Monday, October 2nd. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.30.

Wesco Aircraft (WAIR) opened at $7.30 on Friday. Wesco Aircraft has a 1-year low of $6.05 and a 1-year high of $15.78. The company has a market cap of $725.87, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.84 and a beta of 0.67. The company has a current ratio of 3.87, a quick ratio of 1.19 and a debt-to-equity ratio of 1.22.

Wesco Aircraft (NYSE:WAIR) last released its quarterly earnings data on Tuesday, November 28th. The aerospace company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.11). Wesco Aircraft had a negative net margin of 16.60% and a positive return on equity of 7.37%. The company had revenue of $361.60 million for the quarter, compared to the consensus estimate of $363.20 million. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. equities research analysts forecast that Wesco Aircraft will post 0.66 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC lifted its holdings in shares of 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 acquiring an additional 522,991 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 19,114 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Wesco Aircraft in the 2nd quarter valued at about $2,363,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Wesco Aircraft by 42.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 78,919 shares of the aerospace company’s stock valued at $837,000 after acquiring an additional 23,617 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Wesco Aircraft by 158.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 139,243 shares of the aerospace company’s stock valued at $1,511,000 after acquiring an additional 85,461 shares during the last quarter. 94.87% 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.

Analyst Recommendations for Wesco Aircraft (NYSE:WAIR)

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