UBS Group upgraded shares of Wesco Aircraft (NYSE:WAIR) from a sell rating to a neutral rating in a research report sent to investors on Monday, BenzingaRatingsTable reports. UBS Group currently has $11.05 price objective on the aerospace company’s stock, up from their previous price objective of $9.75.
A number of other research analysts also recently weighed in on the company. ValuEngine upgraded Wesco Aircraft from a sell rating to a hold rating in a research note on Saturday, August 10th. Cowen restated a hold rating and issued a $11.50 price target on shares of Wesco Aircraft in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded Wesco Aircraft from a buy rating to a hold rating in a research note on Sunday, July 14th.
Shares of Wesco Aircraft stock opened at $10.94 on Monday. The business’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $9.47. Wesco Aircraft has a 52-week low of $7.38 and a 52-week high of $13.55. The firm has a market cap of $1.10 billion, a PE ratio of 14.59, a P/E/G ratio of 1.07 and a beta of 0.44. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.17 and a current ratio of 3.97.
Wesco Aircraft (NYSE:WAIR) last announced its earnings results on Friday, August 9th. The aerospace company reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. Wesco Aircraft had a return on equity of 11.51% and a net margin of 2.38%. The business had revenue of $442.37 million for the quarter, compared to analyst estimates of $435.60 million. During the same quarter last year, the firm earned $0.20 EPS. Wesco Aircraft’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Wesco Aircraft will post 0.85 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP bought a new position in shares of Wesco Aircraft during the 1st quarter worth approximately $4,457,000. Frontier Capital Management Co. LLC boosted its stake in shares of Wesco Aircraft by 5.5% during the 1st quarter. Frontier Capital Management Co. LLC now owns 6,801,039 shares of the aerospace company’s stock worth $59,781,000 after acquiring an additional 352,835 shares during the period. Norges Bank bought a new position in shares of Wesco Aircraft during the 4th quarter worth approximately $4,566,000. Rutabaga Capital Management LLC MA boosted its stake in shares of Wesco Aircraft by 20.0% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 1,414,405 shares of the aerospace company’s stock worth $12,433,000 after acquiring an additional 235,603 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Wesco Aircraft by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 645,338 shares of the aerospace company’s stock worth $5,098,000 after acquiring an additional 48,956 shares during the period. Institutional investors own 87.72% of the company’s stock.
Wesco Aircraft Company Profile
Wesco Aircraft Holdings, Inc distributes aerospace products and provides supply chain management services to the aerospace industry in North America and internationally. Its services include distribution, supplier relationships management, quality assurance, kitting, just-in-time delivery, chemical management, third-party logistics or fourth-party logistics program, and point-of-use inventory management.
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