Today, Wesco Aircraft Holdings Inc. (WAIR) Stock Rating Upgrade by The Zacks Investment Research

Today, Wesco Aircraft Holdings Inc. (WAIR) Stock Rating Upgrade by The Zacks Investment Research
Wesco Aircraft Holdings Inc. (NYSE:WAIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $16.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 8.47% from the company’s current price.

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. “

A number of other analysts have also recently weighed in on WAIR. Jefferies Group set a $12.00 price target on Wesco Aircraft Holdings and gave the stock a “sell” rating in a research report on Saturday, November 19th. KeyCorp reiterated a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, September 28th. Finally, Rosenblatt Securities upgraded Wesco Aircraft Holdings from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Friday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.00.

Wesco Aircraft Holdings (NYSE:WAIR) opened at 14.75 on Wednesday. The firm has a market capitalization of $1.45 billion, a PE ratio of 15.86 and a beta of 0.80. The company’s 50-day moving average price is $13.30 and its 200 day moving average price is $13.61. Wesco Aircraft Holdings has a one year low of $9.91 and a one year high of $15.07.

Wesco Aircraft Holdings (NYSE:WAIR) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $365.60 million for the quarter. Wesco Aircraft Holdings had a return on equity of 13.00% and a net margin of 6.19%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts forecast that Wesco Aircraft Holdings will post $1.12 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of WAIR. Panagora Asset Management Inc. raised its position in shares of Wesco Aircraft Holdings by 162.0% in the third quarter. Panagora Asset Management Inc. now owns 96,956 shares of the company’s stock worth $1,302,000 after buying an additional 59,946 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Wesco Aircraft Holdings by 33.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 163,760 shares of the company’s stock worth $2,199,000 after buying an additional 41,388 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Wesco Aircraft Holdings during the third quarter worth about $934,000. The Manufacturers Life Insurance Company purchased a new position in shares of Wesco Aircraft Holdings during the third quarter worth about $531,000. Finally, Irving Magee Investment Management raised its position in shares of Wesco Aircraft Holdings by 24.1% in the third quarter. Irving Magee Investment Management now owns 371,750 shares of the company’s stock worth $4,993,000 after buying an additional 72,082 shares during the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

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’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time (JIT) delivery and point-of-use inventory management.

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