Wesco Aircraft Holdings, Inc. (NYSE:WAIR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a note issued to investors on Sunday, July 23rd. They currently have a $9.00 target price on the aerospace company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 16.13% from the company’s current price.
Several other analysts have also weighed in on WAIR. BidaskClub upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Cowen and Company restated a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft Holdings in a report on Monday, July 17th. Zacks Investment Research upgraded Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. ValuEngine downgraded Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. downgraded Wesco Aircraft Holdings from a “buy” rating to a “neutral” rating in a research report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.14.
Wesco Aircraft Holdings (NYSE:WAIR) remained flat at $7.75 during midday trading on Friday. The company’s stock had a trading volume of 318,664 shares. The firm has a 50-day moving average price of $10.05 and a 200 day moving average price of $10.86. Wesco Aircraft Holdings has a 12 month low of $6.95 and a 12 month high of $15.77. The firm’s market cap is $771.74 million.
Wesco Aircraft Holdings (NYSE:WAIR) last issued its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.12. The firm had revenue of $363.90 million for the quarter, compared to analysts’ expectations of $379.32 million. Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Equities research analysts forecast that Wesco Aircraft Holdings will post $0.69 EPS for the current fiscal year.
In other news, Director Thomas Bancroft purchased 248,398 shares of the stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $7.79 per share, with a total value of $1,935,020.42. Following the completion of the purchase, the director now directly owns 13,487 shares of the company’s stock, valued at approximately $105,063.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Todd Renehan purchased 5,100 shares of the stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $7.79 per share, for a total transaction of $39,729.00. Following the completion of the purchase, the chief executive officer now directly owns 34,380 shares of the company’s stock, valued at $267,820.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,047,208 shares of company stock worth $8,907,125. 10.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Wesco Aircraft Holdings by 25.6% in the fourth quarter. State Street Corp now owns 1,475,250 shares of the aerospace company’s stock worth $22,052,000 after buying an additional 300,961 shares during the last quarter. FMR LLC increased its stake in Wesco Aircraft Holdings by 28.4% in the fourth quarter. FMR LLC now owns 191,900 shares of the aerospace company’s stock worth $2,869,000 after buying an additional 42,500 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Wesco Aircraft Holdings during the fourth quarter worth approximately $1,791,000. Norges Bank acquired a new stake in Wesco Aircraft Holdings during the fourth quarter worth approximately $14,084,000. Finally, Teachers Advisors LLC increased its stake in Wesco Aircraft Holdings by 42.3% in the fourth quarter. Teachers Advisors LLC now owns 129,451 shares of the aerospace company’s stock worth $1,935,000 after buying an additional 38,508 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.
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.
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