Longbow Research started coverage on shares of Wesco Aircraft (NYSE:WAIR) in a research note issued to investors on Thursday, January 4th, Marketbeat Ratings reports. The firm issued a neutral rating on the aerospace company’s stock.
Several other research analysts also recently commented on the stock. BidaskClub raised shares of Wesco Aircraft from a hold rating to a buy rating in a report on Saturday, September 16th. SunTrust Banks reaffirmed a buy rating and issued a $12.00 price objective on shares of Wesco Aircraft in a report on Monday, October 2nd. Zacks Investment Research raised shares of Wesco Aircraft from a strong sell rating to a hold rating in a report on Thursday, October 5th. Cowen reissued a hold rating and issued a $7.00 price target on shares of Wesco Aircraft in a report on Wednesday, November 29th. Finally, Deutsche Bank raised shares of Wesco Aircraft from a sell rating to a hold rating and set a $7.50 price target for the company in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $9.30.
Shares of Wesco Aircraft (NYSE WAIR) opened at $7.65 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.87 and a quick ratio of 1.11. The company has a market cap of $771.31, a PE ratio of -3.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.66. Wesco Aircraft has a one year low of $6.05 and a one year high of $15.55.
Wesco Aircraft (NYSE:WAIR) last posted its quarterly earnings data on Tuesday, November 28th. The aerospace company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $361.60 million during the quarter, compared to analysts’ expectations of $363.20 million. During the same quarter last year, the business posted $0.30 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. equities research analysts forecast that Wesco Aircraft will post 0.64 earnings per share for the current year.
In other Wesco Aircraft news, EVP Declan O. Grant bought 7,170 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average price of $6.94 per share, for a total transaction of $49,759.80. Following the transaction, the executive vice president now directly owns 70,760 shares in the company, valued at $491,074.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in WAIR. Cove Street Capital LLC grew its holdings in Wesco Aircraft by 146.6% in the 2nd quarter. Cove Street Capital LLC now owns 4,375,845 shares of the aerospace company’s stock worth $47,478,000 after acquiring an additional 2,601,134 shares during the last quarter. Makaira Partners LLC grew its holdings in Wesco Aircraft by 18.0% in the 2nd quarter. Makaira Partners LLC now owns 9,649,938 shares of the aerospace company’s stock worth $104,702,000 after acquiring an additional 1,474,630 shares during the last quarter. Northern Trust Corp grew its holdings in Wesco Aircraft by 79.5% in the 2nd quarter. Northern Trust Corp now owns 1,308,517 shares of the aerospace company’s stock worth $14,198,000 after acquiring an additional 579,446 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings 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 worth $57,228,000 after acquiring an additional 522,991 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Wesco Aircraft by 13.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,061,409 shares of the aerospace company’s stock valued at $44,065,000 after purchasing an additional 473,010 shares in the last quarter. 94.88% of the stock is currently 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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