KeyCorp Reiterates Hold Rating for Wesco Aircraft Holdings Inc. (WAIR)
Wesco Aircraft Holdings Inc. (NYSE:WAIR)‘s stock had its “hold” rating reiterated by stock analysts at KeyCorp in a research note issued on Wednesday.
A number of other analysts have also recently issued reports on WAIR. Rosenblatt Securities reduced their price objective on Wesco Aircraft Holdings from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, June 28th. Jefferies Group lowered Wesco Aircraft Holdings from a “hold” rating to an “underperform” rating and cut their target price for the company from $14.00 to $12.00 in a report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.75.
Wesco Aircraft Holdings (NYSE:WAIR) opened at 13.40 on Wednesday. The company’s market cap is $1.32 billion. Wesco Aircraft Holdings has a 12-month low of $9.91 and a 12-month high of $15.07. The firm’s 50-day moving average price is $13.70 and its 200-day moving average price is $13.91.
Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm earned $375.20 million during the quarter, compared to analysts’ expectations of $381.12 million. Wesco Aircraft Holdings had a positive return on equity of 12.72% and a negative net margin of 9.85%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Analysts expect that Wesco Aircraft Holdings will post $1.12 EPS for the current year.
Several institutional investors have recently bought and sold shares of WAIR. Teachers Advisors Inc. raised its position in Wesco Aircraft Holdings by 30.4% in the first quarter. Teachers Advisors Inc. now owns 95,765 shares of the company’s stock worth $1,378,000 after buying an additional 22,303 shares during the last quarter. Rudman Errol M acquired a new position in Wesco Aircraft Holdings during the first quarter worth approximately $1,570,000. Goldman Sachs Group Inc. raised its position in Wesco Aircraft Holdings by 468.6% in the first quarter. Goldman Sachs Group Inc. now owns 210,092 shares of the company’s stock worth $3,023,000 after buying an additional 173,143 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Wesco Aircraft Holdings by 51.7% in the second quarter. Frontier Capital Management Co. LLC now owns 3,376,015 shares of the company’s stock worth $45,306,000 after buying an additional 1,150,687 shares during the last quarter. Finally, Norges Bank acquired a new position in Wesco Aircraft Holdings during the fourth quarter worth approximately $8,133,000. Institutional investors and hedge funds own 89.27% of the company’s stock.
About Wesco Aircraft Holdings
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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