Wesco Aircraft Holdings Inc. (WAIR) Upgraded by Rosenblatt Securities to “Buy”
Wesco Aircraft Holdings Inc. (NYSE:WAIR) was upgraded by equities researchers at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $17.00 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 25.83% from the stock’s current price.
A number of other brokerages have also issued reports on WAIR. KeyCorp reaffirmed a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, September 28th. Jefferies Group downgraded Wesco Aircraft Holdings from a “hold” rating to an “underperform” rating and lowered their price target for the company from $14.00 to $12.00 in a report on Monday, July 18th. Finally, Zacks Investment Research downgraded Wesco Aircraft Holdings from a “hold” rating to a “sell” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.58.
Shares of Wesco Aircraft Holdings (NYSE:WAIR) traded down 1.46% during midday trading on Friday, hitting $13.51. The company had a trading volume of 483,928 shares. The company’s 50 day moving average is $13.68 and its 200 day moving average is $13.90. Wesco Aircraft Holdings has a one year low of $9.91 and a one year high of $15.07. The firm’s market cap is $1.33 billion.
Wesco Aircraft Holdings (NYSE:WAIR) last announced its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $375.20 million for the quarter, compared to analyst estimates of $381.12 million. Wesco Aircraft Holdings had a positive return on equity of 12.72% and a negative net margin of 9.85%. Wesco Aircraft Holdings’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. Equities analysts forecast that Wesco Aircraft Holdings will post $1.12 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of WAIR. Atria Investments LLC purchased a new position in shares of Wesco Aircraft Holdings during the second quarter worth approximately $154,000. Springbok Capital Management LLC increased its position in shares of Wesco Aircraft Holdings by 21.4% in the first quarter. Springbok Capital Management LLC now owns 17,600 shares of the company’s stock worth $253,000 after buying an additional 3,100 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Wesco Aircraft Holdings by 37.9% in the first quarter. Envestnet Asset Management Inc. now owns 79,695 shares of the company’s stock worth $1,147,000 after buying an additional 21,900 shares during the period. Rudman Errol M purchased a new position in shares of Wesco Aircraft Holdings during the first quarter worth approximately $1,570,000. Finally, Makaira Partners LLC purchased a new position in shares of Wesco Aircraft Holdings during the first quarter worth approximately $115,393,000. Hedge funds and other institutional investors own 89.27% of the company’s stock.
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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