Trade Report: The Wesco Aircraft Holdings Inc. (WAIR) Raised to “Buy” at The Zacks Investment Research

The Wesco Aircraft Holdings Inc. (WAIR) Raised to “Buy” at The Zacks Investment Research

Zacks Investment Research upgraded shares of Wesco Aircraft Holdings Inc. (NYSE:WAIR) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $16.00 price target on the stock.

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. “

WAIR has been the subject of several other reports. Jefferies Group decreased their target price on shares of Wesco Aircraft Holdings from $12.00 to $11.00 and set an underperform rating for the company in a report on Friday, August 5th. Rosenblatt Securities raised shares of Wesco Aircraft Holdings from a neutral rating to a buy rating and set a $17.00 target price for the company in a report on Friday, October 7th. Finally, KeyCorp reaffirmed a hold rating on shares of Wesco Aircraft Holdings in a report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.00.

Wesco Aircraft Holdings (NYSE:WAIR) opened at 15.00 on Wednesday. The company has a 50-day moving average of $13.32 and a 200 day moving average of $13.62. The company has a market capitalization of $1.47 billion, a P/E ratio of 16.13 and a beta of 0.80. Wesco Aircraft Holdings has a 12-month low of $9.91 and a 12-month high of $15.07.

Wesco Aircraft Holdings (NYSE:WAIR) last issued its earnings results on Thursday, November 17th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business earned $365.60 million during the quarter. Wesco Aircraft Holdings had a net margin of 6.19% and a return on equity of 13.00%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Wesco Aircraft Holdings will post $1.12 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Wesco Aircraft Holdings during the third quarter valued at $119,000. Atria Investments LLC bought a new position in Wesco Aircraft Holdings during the second quarter valued at $154,000. Aperio Group LLC boosted its position in Wesco Aircraft Holdings by 9.2% in the third quarter. Aperio Group LLC now owns 13,125 shares of the company’s stock valued at $176,000 after buying an additional 1,105 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Wesco Aircraft Holdings during the second quarter valued at $182,000. Finally, Principal Financial Group Inc. boosted its position in Wesco Aircraft Holdings by 8.0% in the second quarter. Principal Financial Group Inc. now owns 13,836 shares of the company’s stock valued at $186,000 after buying an additional 1,023 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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