Wesco Aircraft (NYSE:WAIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage presently has a $11.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.68% from the stock’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. “
Several other research analysts have also recently commented on WAIR. Deutsche Bank upgraded shares of Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 target price for the company in a report on Thursday, November 30th. Cowen reaffirmed a “hold” rating and set a $7.00 price target on shares of Wesco Aircraft in a research report on Wednesday, November 29th. Longbow Research started coverage on shares of Wesco Aircraft in a research report on Thursday, January 4th. They set a “neutral” rating on the stock. Finally, ValuEngine raised shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wesco Aircraft currently has an average rating of “Hold” and an average target price of $9.30.
Wesco Aircraft (NYSE:WAIR) last posted its quarterly earnings data on Thursday, February 8th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company had revenue of $363.10 million for the quarter, compared to the consensus estimate of $346.96 million. Wesco Aircraft had a positive return on equity of 7.42% and a negative net margin of 17.26%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. analysts forecast that Wesco Aircraft will post 0.7 earnings per share for the current fiscal year.
In related news, major shareholder Makaira Partners Llc acquired 550,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was purchased at an average price of $8.80 per share, with a total value of $4,840,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 893,610 shares of company stock valued at $7,881,718. Insiders own 10.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Voya Investment Management LLC increased its holdings in Wesco Aircraft by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock worth $282,000 after buying an additional 5,376 shares in the last quarter. State Street Corp grew its stake in shares of Wesco Aircraft 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 purchasing an additional 214,402 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Wesco Aircraft by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,175 shares of the aerospace company’s stock worth $490,000 after purchasing an additional 661 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Wesco Aircraft by 9.6% in the 3rd quarter. Prudential Financial Inc. now owns 84,433 shares of the aerospace company’s stock worth $794,000 after purchasing an additional 7,420 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in Wesco Aircraft by 0.5% in the 3rd quarter. Pzena Investment Management LLC now owns 1,559,373 shares of the aerospace company’s stock valued at $14,658,000 after acquiring an additional 7,369 shares during the last quarter. Hedge funds and other institutional investors own 88.23% 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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