Wesco Aircraft (WAIR) Sees Unusually-High Trading Volume

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Wesco Aircraft Holdings Inc (NYSE:WAIR) saw an uptick in trading volume on Friday . 3,188,931 shares changed hands during trading, an increase of 455% from the previous session’s volume of 574,077 shares.The stock last traded at $8.22 and had previously closed at $7.99.

A number of research firms have recently weighed in on WAIR. ValuEngine cut Wesco Aircraft from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Cowen reaffirmed a “hold” rating and set a $9.00 price objective on shares of Wesco Aircraft in a research report on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Wesco Aircraft currently has an average rating of “Hold” and a consensus target price of $10.33.

The company has a debt-to-equity ratio of 1.10, a current ratio of 3.90 and a quick ratio of 1.07. The stock has a market cap of $788.00 million, a price-to-earnings ratio of 10.96, a PEG ratio of 0.81 and a beta of 0.61.

Wesco Aircraft (NYSE:WAIR) last posted its quarterly earnings results on Thursday, January 31st. The aerospace company reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. Wesco Aircraft had a return on equity of 11.23% and a net margin of 2.45%. The company had revenue of $395.31 million for the quarter, compared to analysts’ expectations of $385.37 million. As a group, analysts predict that Wesco Aircraft Holdings Inc will post 0.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. United Services Automobile Association lifted its holdings in Wesco Aircraft by 10.7% in the 4th quarter. United Services Automobile Association now owns 16,559 shares of the aerospace company’s stock worth $131,000 after purchasing an additional 1,599 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Wesco Aircraft by 0.6% in the 3rd quarter. Teachers Advisors LLC now owns 283,229 shares of the aerospace company’s stock worth $3,186,000 after purchasing an additional 1,792 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Wesco Aircraft by 24.0% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 22,151 shares of the aerospace company’s stock worth $175,000 after purchasing an additional 4,282 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Wesco Aircraft by 4.7% in the 3rd quarter. Wells Fargo & Company MN now owns 123,621 shares of the aerospace company’s stock worth $1,391,000 after purchasing an additional 5,545 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in Wesco Aircraft in the 4th quarter worth approximately $64,000. 89.18% of the stock is currently owned by institutional investors.

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About Wesco Aircraft (NYSE:WAIR)

Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in North America and internationally. Its services include distribution, supplier relationships management, quality assurance, kitting, just-in-time delivery, chemical management, third-party logistics or fourth-party logistics program, and point-of-use inventory management.

See Also: Asset Allocation

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