Wall Street brokerages forecast that Wesco Aircraft Holdings, Inc. (NYSE:WAIR) will post $396.42 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Wesco Aircraft Holdings’ earnings, with the highest sales estimate coming in at $422.00 million and the lowest estimate coming in at $370.83 million. Wesco Aircraft Holdings reported sales of $365.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The business is expected to announce its next quarterly earnings results on Thursday, November 16th.
On average, analysts expect that Wesco Aircraft Holdings will report full-year sales of $396.42 million for the current financial year, with estimates ranging from $1.43 billion to $1.49 billion. For the next financial year, analysts anticipate that the business will report sales of $1.49 billion per share, with estimates ranging from $1.46 billion to $1.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Wesco Aircraft Holdings.
Wesco Aircraft Holdings (NYSE:WAIR) last announced its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.12). The firm had revenue of $363.90 million during the quarter, compared to analysts’ expectations of $379.32 million. Wesco Aircraft Holdings had a negative net margin of 12.26% and a positive return on equity of 9.42%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS.
WAIR has been the topic of a number of research analyst reports. ValuEngine upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BidaskClub upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. TheStreet downgraded Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a research report on Tuesday, August 8th. Cowen and Company restated a “hold” rating on shares of Wesco Aircraft Holdings in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC set a $9.00 price objective on Wesco Aircraft Holdings and gave the company a “hold” rating in a research report on Friday, June 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Wesco Aircraft Holdings has a consensus rating of “Hold” and a consensus price target of $13.14.
Wesco Aircraft Holdings (WAIR) opened at 9.05 on Tuesday. The firm has a 50-day moving average price of $8.65 and a 200-day moving average price of $10.14. Wesco Aircraft Holdings has a one year low of $6.95 and a one year high of $15.77. The stock’s market cap is $901.19 million.
In related news, Director Thomas Bancroft bought 27,841 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of $7.70 per share, for a total transaction of $214,375.70. Following the completion of the purchase, the director now owns 13,487 shares in the company, valued at $103,849.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Makaira Partners Llc bought 123,067 shares of the stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $7.81 per share, with a total value of $961,153.27. Following the purchase, the insider now owns 9,941,177 shares of the company’s stock, valued at approximately $77,640,592.37. The disclosure for this purchase can be found here. Insiders have acquired 1,068,719 shares of company stock valued at $8,385,130 over the last 90 days. 10.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in shares of Wesco Aircraft Holdings in the first quarter valued at about $123,000. Aperio Group LLC acquired a new stake in Wesco Aircraft Holdings during the 2nd quarter valued at approximately $186,000. HighTower Advisors LLC grew its stake in Wesco Aircraft Holdings by 1.9% during the 1st quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock valued at $221,000 after purchasing an additional 368 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in Wesco Aircraft Holdings during the 2nd quarter valued at approximately $278,000. Finally, Voya Investment Management LLC grew its stake in Wesco Aircraft Holdings by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock valued at $282,000 after purchasing an additional 5,376 shares in the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
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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 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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