Oppenheimer Asset Management Inc. decreased its position in Wesco Aircraft Holdings Inc (NYSE:WAIR) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,481 shares of the aerospace company’s stock after selling 1,105 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of Wesco Aircraft worth $649,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. First Quadrant L P CA purchased a new position in shares of Wesco Aircraft during the 2nd quarter worth $38,000. Canton Hathaway LLC bought a new position in Wesco Aircraft in the 2nd quarter worth $102,000. BNP Paribas Arbitrage SA raised its holdings in Wesco Aircraft by 191.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,564 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 8,257 shares during the period. Bank of Montreal Can lifted its position in Wesco Aircraft by 72.9% during the second quarter. Bank of Montreal Can now owns 10,578 shares of the aerospace company’s stock valued at $117,000 after purchasing an additional 4,459 shares in the last quarter. Finally, Loews Corp purchased a new position in Wesco Aircraft during the first quarter valued at $126,000. 86.05% of the stock is currently owned by institutional investors.
A number of analysts have commented on WAIR shares. UBS Group upgraded Wesco Aircraft from a “sell” rating to a “neutral” rating and upped their price target for the stock from $9.75 to $11.05 in a research report on Monday, August 12th. Cowen reaffirmed a “hold” rating and issued a $11.50 price objective on shares of Wesco Aircraft in a research note on Friday, August 9th. Zacks Investment Research cut Wesco Aircraft from a “buy” rating to a “hold” rating in a research report on Sunday, July 14th. Finally, ValuEngine upgraded Wesco Aircraft from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th.
Shares of WAIR traded up $0.01 during midday trading on Wednesday, hitting $10.95. 97,102 shares of the company traded hands, compared to its average volume of 1,100,710. The firm has a 50 day moving average of $10.82 and a 200-day moving average of $9.82. Wesco Aircraft Holdings Inc has a 52 week low of $7.38 and a 52 week high of $11.79. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.07 and a beta of 0.44. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.20 and a current ratio of 3.84.
Wesco Aircraft (NYSE:WAIR) last issued its earnings results on Friday, August 9th. The aerospace company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The firm had revenue of $442.37 million for the quarter, compared to analysts’ expectations of $435.60 million. Wesco Aircraft had a return on equity of 11.41% and a net margin of 2.38%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Sell-side analysts predict that Wesco Aircraft Holdings Inc will post 0.85 earnings per share for the current fiscal year.
Wesco Aircraft Profile
Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in North America and internationally. Its services include distribution, supplier relationships management, quality assurance, kitting, just-in-time delivery, chemical management, third-party logistics or fourth-party logistics program, and point-of-use inventory management.
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