Wesco Aircraft (NYSE:WAIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, March 10th. The firm currently has a $11.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.68% from the company’s previous close.
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. “
A number of other equities analysts have also weighed in on the stock. Deutsche Bank upgraded shares of Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price target on the stock in a research report on Thursday, November 30th. Cowen reiterated a “hold” rating and issued a $7.00 target price on shares of Wesco Aircraft in a report on Wednesday, November 29th. Longbow Research assumed coverage on shares of Wesco Aircraft in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. Finally, ValuEngine raised shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.30.
Shares of Wesco Aircraft stock opened at $9.85 on Friday. Wesco Aircraft has a one year low of $6.05 and a one year high of $12.53. The company has a quick ratio of 1.06, a current ratio of 3.93 and a debt-to-equity ratio of 1.21. The firm has a market cap of $980.20, a P/E ratio of -3.89, a price-to-earnings-growth ratio of 1.17 and a beta of 0.28.
Wesco Aircraft (NYSE:WAIR) last issued its earnings results on Thursday, February 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Wesco Aircraft had a positive return on equity of 7.42% and a negative net margin of 17.26%. The business had revenue of $363.10 million for the quarter, compared to analysts’ expectations of $346.96 million. During the same period last year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts anticipate that Wesco Aircraft will post 0.7 EPS for the current year.
In other Wesco Aircraft news, major shareholder Makaira Partners Llc purchased 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average price of $8.72 per share, for a total transaction of $2,180,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have purchased 893,610 shares of company stock valued at $7,881,718. 10.30% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Wesco Aircraft in the 4th quarter worth $106,000. Huber Capital Management LLC purchased a new position in shares of Wesco Aircraft in the 3rd quarter valued at about $154,000. Teacher Retirement System of Texas purchased a new position in shares of Wesco Aircraft in the 4th quarter valued at about $137,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Wesco Aircraft in the 4th quarter valued at about $138,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Wesco Aircraft in the 4th quarter valued at about $161,000. Institutional investors own 89.46% of the company’s stock.
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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.
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