A number of other research firms have also recently weighed in on WAIR. Jefferies Group cut shares of Wesco Aircraft Holdings from a hold rating to an underperform rating and lowered their price objective for the stock from $14.00 to $12.00 in a research report on Monday, July 18th. Rosenblatt Securities lowered their price objective on shares of 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. Two equities 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 stock. The stock currently has an average rating of Hold and an average target price of $12.75.
Wesco Aircraft Holdings (NYSE:WAIR) opened at 13.50 on Wednesday. The stock’s 50 day moving average price is $13.70 and its 200-day moving average price is $13.91. The firm’s market capitalization is $1.33 billion. 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 posted its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Wesco Aircraft Holdings had a negative net margin of 9.85% and a positive return on equity of 12.72%. The business earned $375.20 million during the quarter, compared to analysts’ expectations of $381.12 million. During the same quarter in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts forecast that Wesco Aircraft Holdings will post $1.12 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the stock. Atria Investments LLC acquired a new position in shares of Wesco Aircraft Holdings during the second quarter valued at approximately $154,000. Janney Montgomery Scott LLC acquired a new position in shares of Wesco Aircraft Holdings during the second quarter valued at approximately $182,000. Principal Financial Group Inc. boosted its position in shares of 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 in the last quarter. Princeton Alpha Management LP acquired a new position in shares of Wesco Aircraft Holdings during the second quarter valued at approximately $193,000. Finally, BlackRock Inc. boosted its position in shares of Wesco Aircraft Holdings by 254.6% in the second quarter. BlackRock Inc. now owns 14,860 shares of the company’s stock valued at $199,000 after buying an additional 10,669 shares in the last quarter. 89.27% of the stock is owned by institutional investors.
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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