Wesco Aircraft Holdings, Inc. (NYSE:WAIR) Releases Earnings Results, Misses Estimates By $0.12 EPS
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) issued its quarterly earnings data on Tuesday. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.12, Bloomberg Earnings reports. Wesco Aircraft Holdings had a return on equity of 11.03% and a net margin of 5.39%. The firm had revenue of $363.90 million during the quarter, compared to analysts’ expectations of $379.32 million. During the same period in the previous year, the firm earned $0.29 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis.
Wesco Aircraft Holdings (NYSE:WAIR) traded down 25.845% during mid-day trading on Wednesday, hitting $7.675. 2,321,777 shares of the stock traded hands. Wesco Aircraft Holdings has a 12-month low of $7.25 and a 12-month high of $15.78. The company has a 50 day moving average of $10.60 and a 200-day moving average of $11.35. The stock has a market cap of $765.09 million, a PE ratio of 9.728 and a beta of 0.69.
A number of research analysts have recently issued reports on the stock. BidaskClub raised shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC set a $9.00 price objective on shares of Wesco Aircraft Holdings and gave the stock a “hold” rating in a research report on Friday, June 16th. Cowen and Company reissued a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday. ValuEngine raised shares of Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Wesco Aircraft Holdings presently has an average rating of “Hold” and a consensus price target of $13.14.
In other news, Director Thomas Bancroft purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $9.45 per share, with a total value of $1,417,500.00. Following the transaction, the director now owns 13,487 shares in the company, valued at approximately $127,452.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 1,396,510 shares of company stock worth $12,570,693. Corporate insiders own 10.30% 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 operates through two segments: North America and Rest of World. As of September 30, 2016, the Company supplied over 565,000 active stock-keeping units (SKUs), including C-class hardware, chemicals, electronic components, bearings, tools and machined parts.
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