Zacks Investment Research Downgrades Wesco Aircraft Holdings, Inc. (WAIR) to Strong Sell

Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday.

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. “

WAIR has been the topic of a number of other research reports. BidaskClub raised shares of Wesco Aircraft Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 27th. ValuEngine cut shares of Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Wesco Aircraft Holdings in a research note on Sunday, July 23rd. Cowen and Company reaffirmed a “hold” rating on shares of Wesco Aircraft Holdings in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Wesco Aircraft Holdings in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.50.

Shares of Wesco Aircraft Holdings (NYSE WAIR) opened at 9.50 on Thursday. The firm’s market cap is $946.00 million. 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 $8.98 and a 200-day moving average of $9.87.

Wesco Aircraft Holdings (NYSE:WAIR) last issued its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.12). The company had revenue of $363.90 million during the quarter, compared to the consensus estimate of $379.32 million. Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. Wesco Aircraft Holdings’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, analysts anticipate that Wesco Aircraft Holdings will post $0.70 EPS for the current year.

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In other Wesco Aircraft Holdings news, CEO Todd Renehan acquired 5,100 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $7.79 per share, with a total value of $39,729.00. Following the purchase, the chief executive officer now owns 34,380 shares of the company’s stock, valued at $267,820.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Weller acquired 4,863 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $8.00 per share, with a total value of $38,904.00. Following the purchase, the chief financial officer now directly owns 42,901 shares in the company, valued at approximately $343,208. The disclosure for this purchase can be found here. Insiders bought a total of 1,068,719 shares of company stock valued at $8,385,130 in the last ninety days. 10.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in Wesco Aircraft Holdings by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,175 shares of the aerospace company’s stock valued at $490,000 after buying an additional 661 shares during the period. Makaira Partners LLC boosted its position in Wesco Aircraft Holdings by 18.0% during the 2nd quarter. Makaira Partners LLC now owns 9,649,938 shares of the aerospace company’s stock valued at $104,702,000 after buying an additional 1,474,630 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Wesco Aircraft Holdings by 42.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 78,919 shares of the aerospace company’s stock valued at $837,000 after buying an additional 23,617 shares during the period. State Street Corp boosted its position in Wesco Aircraft Holdings by 11.9% during the 2nd quarter. State Street Corp now owns 2,014,604 shares of the aerospace company’s stock valued at $21,861,000 after buying an additional 214,402 shares during the period. Finally, Voya Investment Management LLC boosted its position 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 buying an additional 5,376 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.

Wesco Aircraft Holdings 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 Holdings (NYSE:WAIR)

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