Wesco Aircraft (NYSE:WAIR) Stock Rating Lowered by Zacks Investment Research

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Wesco Aircraft (NYSE:WAIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Sunday, Zacks.com reports.

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 brokerages also recently weighed in on WAIR. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Thursday, May 2nd. ValuEngine raised ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

WAIR opened at $10.76 on Friday. The company has a 50-day moving average of $10.57. Wesco Aircraft has a 1 year low of $7.38 and a 1 year high of $14.23. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.97 and a quick ratio of 1.17. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.08 and a beta of 0.46.

Wesco Aircraft (NYSE:WAIR) last posted its earnings results on Thursday, May 2nd. The aerospace company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Wesco Aircraft had a return on equity of 11.22% and a net margin of 2.22%. The company had revenue of $426.47 million for the quarter, compared to analyst estimates of $414.99 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Wesco Aircraft will post 0.84 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Canton Hathaway LLC acquired a new position in shares of Wesco Aircraft in the 2nd quarter valued at $102,000. First Trust Advisors LP lifted its stake in shares of Wesco Aircraft by 4.8% in the 1st quarter. First Trust Advisors LP now owns 226,280 shares of the aerospace company’s stock valued at $1,989,000 after purchasing an additional 10,357 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Wesco Aircraft in the 1st quarter valued at $4,457,000. Cove Street Capital LLC lifted its stake in Wesco Aircraft by 9.7% during the 1st quarter. Cove Street Capital LLC now owns 2,524,112 shares of the aerospace company’s stock worth $22,187,000 after acquiring an additional 224,083 shares in the last quarter. Finally, Loews Corp acquired a new position in Wesco Aircraft during the 1st quarter worth about $126,000. 87.94% of the stock is owned by hedge funds and other institutional investors.

Wesco Aircraft Company Profile

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.

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