Longbow Research Initiates Coverage on Wesco Aircraft (WAIR)

Equities research analysts at Longbow Research began coverage on shares of Wesco Aircraft (NYSE:WAIR) in a research report issued on Thursday. The brokerage set a “neutral” rating on the aerospace company’s stock.

Several other research analysts also recently weighed in on WAIR. BidaskClub upgraded Wesco Aircraft from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. SunTrust Banks reiterated a “buy” rating and issued a $12.00 price target on shares of Wesco Aircraft in a report on Monday, October 2nd. Zacks Investment Research upgraded Wesco Aircraft from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. Cowen reiterated a “hold” rating and issued a $7.00 price target on shares of Wesco Aircraft in a report on Wednesday, November 29th. Finally, Deutsche Bank upgraded Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price target for the company in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.30.

Wesco Aircraft (WAIR) opened at $7.65 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.11 and a current ratio of 3.87. Wesco Aircraft has a 12-month low of $6.05 and a 12-month high of $15.55. The stock has a market capitalization of $761.36, a P/E ratio of -3.19, a P/E/G ratio of 0.99 and a beta of 0.66.

Wesco Aircraft (NYSE:WAIR) last issued its quarterly earnings results on Tuesday, November 28th. The aerospace company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.11). The business had revenue of $361.60 million during the quarter, compared to analyst estimates of $363.20 million. Wesco Aircraft had a negative net margin of 16.60% and a positive return on equity of 7.37%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. analysts predict that Wesco Aircraft will post 0.64 earnings per share for the current fiscal year.

In other Wesco Aircraft news, EVP Declan O. Grant purchased 7,170 shares of the business’s stock in a transaction on Monday, December 11th. The stock was bought at an average cost of $6.94 per share, for a total transaction of $49,759.80. Following the acquisition, the executive vice president now owns 70,760 shares of the company’s stock, valued at approximately $491,074.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in WAIR. Victory Capital Management Inc. grew its stake in shares of Wesco Aircraft by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,661 shares of the aerospace company’s stock valued at $137,000 after buying an additional 1,898 shares during the period. Huber Capital Management LLC purchased a new stake in shares of Wesco Aircraft during the 3rd quarter valued at $154,000. Aperio Group LLC purchased a new stake in shares of Wesco Aircraft during the 2nd quarter valued at $186,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Wesco Aircraft during the 3rd quarter valued at $242,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Wesco Aircraft during the 2nd quarter valued at $278,000. 94.88% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Wesco Aircraft (NYSE:WAIR)

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