Wesco Aircraft (WAIR) Reaches New 52-Week Low Following Weak Earnings
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $6.80 and last traded at $7.70, with a volume of 894100 shares traded. The stock had previously closed at $7.80.
The aerospace company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.11). Wesco Aircraft had a positive return on equity of 9.42% and a negative net margin of 12.26%. The business had revenue of $361.60 million during the quarter, compared to analyst estimates of $363.20 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis.
WAIR has been the topic of a number of research reports. SunTrust Banks restated a “buy” rating and issued a $12.00 price objective on shares of Wesco Aircraft in a report on Monday, October 2nd. BidaskClub upgraded Wesco Aircraft from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. Zacks Investment Research upgraded Wesco Aircraft from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, October 19th. TheStreet downgraded Wesco Aircraft from a “c” rating to a “d+” rating in a report on Tuesday, August 8th. Finally, Cowen restated a “hold” rating and issued a $7.00 price objective on shares of Wesco Aircraft in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Wesco Aircraft currently has an average rating of “Hold” and an average target price of $10.20.
Several large investors have recently made changes to their positions in the stock. Makaira Partners LLC raised its holdings in shares of Wesco Aircraft by 5.4% during the 3rd quarter. Makaira Partners LLC now owns 10,173,818 shares of the aerospace company’s stock valued at $95,634,000 after buying an additional 523,880 shares during the period. Frontier Capital Management Co. LLC increased its holdings in Wesco Aircraft by 9.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,088,113 shares of the aerospace company’s stock worth $57,228,000 after purchasing an additional 522,991 shares during the last quarter. Vanguard Group Inc. increased its holdings in Wesco Aircraft by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,534,638 shares of the aerospace company’s stock worth $49,201,000 after purchasing an additional 19,114 shares during the last quarter. Cove Street Capital LLC increased its holdings in Wesco Aircraft by 146.6% during the 2nd quarter. Cove Street Capital LLC now owns 4,375,845 shares of the aerospace company’s stock worth $47,478,000 after purchasing an additional 2,601,134 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Wesco Aircraft by 6.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,328,895 shares of the aerospace company’s stock worth $40,691,000 after purchasing an additional 267,486 shares during the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.
The company has a debt-to-equity ratio of 1.16, a current ratio of 4.06 and a quick ratio of 1.19. The firm has a market cap of $662.20, a price-to-earnings ratio of 10.00, a PEG ratio of 0.87 and a beta of 0.74.
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About Wesco Aircraft
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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