Wesco Aircraft (NYSE:WAIR) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Wesco Aircraft (NYSE:WAIR) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “Wesco Aircraft Holdings, Inc. distributes and provides supply chain management services to the global aerospace industry. It offers inventory of aerospace parts, including hardware, bearings, tools, electronic components and machined parts. The Company’s services range from traditional distribution to the management of supplier relationships, quality assurance, kitting, just-in-time delivery and point-of-use inventory management. Wesco Aircraft Holdings, Inc. is headquartered in Valencia, California. “

WAIR has been the subject of a number of other reports. ValuEngine downgraded shares of Wesco Aircraft from a hold rating to a sell rating in a research report on Saturday, September 14th. Cowen reissued a hold rating and set a $11.50 target price on shares of Wesco Aircraft in a research report on Friday, August 9th. Finally, UBS Group raised shares of Wesco Aircraft from a sell rating to a neutral rating and increased their target price for the company from $9.75 to $11.05 in a research report on Monday, August 12th.

NYSE:WAIR opened at $10.97 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.84 and a quick ratio of 1.20. The firm has a 50-day moving average of $10.85 and a 200-day moving average of $9.93. The company has a market cap of $1.09 billion, a PE ratio of 14.63, a PEG ratio of 1.07 and a beta of 0.44. Wesco Aircraft has a one year low of $7.38 and a one year high of $11.79.

Wesco Aircraft (NYSE:WAIR) last posted its earnings results on Friday, August 9th. The aerospace company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $442.37 million during the quarter, compared to the consensus estimate of $435.60 million. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.41%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities research analysts expect that Wesco Aircraft will post 0.85 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its stake in shares of Wesco Aircraft by 125.0% during the 2nd quarter. Prudential Financial Inc. now owns 609,350 shares of the aerospace company’s stock valued at $6,764,000 after buying an additional 338,566 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Wesco Aircraft during the 1st quarter valued at approximately $4,457,000. Aperio Group LLC lifted its stake in shares of Wesco Aircraft by 4.3% during the 2nd quarter. Aperio Group LLC now owns 97,031 shares of the aerospace company’s stock valued at $1,077,000 after buying an additional 3,984 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Wesco Aircraft during the 2nd quarter valued at approximately $38,000. Finally, Rutabaga Capital Management LLC MA lifted 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 valued at $12,433,000 after buying an additional 235,603 shares in the last quarter. Institutional investors own 86.03% 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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