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

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Zacks Investment Research lowered shares of Wesco Aircraft (NYSE:WAIR) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, 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. “

Other equities research analysts have also issued research reports about the stock. Cowen reiterated a hold rating and set a $11.50 price objective on shares of Wesco Aircraft in a research note on Friday, August 9th. UBS Group upgraded shares of Wesco Aircraft from a sell rating to a neutral rating and increased their price objective for the stock from $9.75 to $11.05 in a research note on Monday, August 12th. Finally, ValuEngine lowered shares of Wesco Aircraft from a hold rating to a sell rating in a research note on Saturday, September 14th.

Shares of Wesco Aircraft stock opened at $10.97 on Thursday. The firm has a market cap of $1.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.07 and a beta of 0.44. Wesco Aircraft has a 1 year low of $7.38 and a 1 year high of $11.79. The firm’s 50-day simple moving average is $10.85 and its 200-day simple moving average is $9.93. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.20 and a current ratio of 3.84.

Wesco Aircraft (NYSE:WAIR) last released its quarterly earnings data on Friday, August 9th. The aerospace company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $442.37 million for the quarter, compared to analyst estimates of $435.60 million. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.41%. Wesco Aircraft’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, equities analysts predict that Wesco Aircraft will post 0.85 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Wesco Aircraft by 2.9% in the 2nd quarter. Royal Bank of Canada now owns 49,743 shares of the aerospace company’s stock worth $552,000 after purchasing an additional 1,425 shares during the last quarter. United Services Automobile Association grew its position in Wesco Aircraft by 10.7% in the 2nd quarter. United Services Automobile Association now owns 23,427 shares of the aerospace company’s stock worth $260,000 after purchasing an additional 2,268 shares during the last quarter. ClariVest Asset Management LLC bought a new position in Wesco Aircraft in the 2nd quarter worth about $1,135,000. Susquehanna International Group LLP grew its position in Wesco Aircraft by 364.0% in the 2nd quarter. Susquehanna International Group LLP now owns 116,353 shares of the aerospace company’s stock worth $1,292,000 after purchasing an additional 91,276 shares during the last quarter. Finally, Engine Capital Management LP bought a new position in Wesco Aircraft in the 2nd quarter worth about $4,051,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.

See Also: P/E Growth (PEG)

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