Insider Buying: Wesco Aircraft Holdings, Inc. (WAIR) EVP Acquires 7,170 Shares of Stock
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) EVP Declan O. Grant purchased 7,170 shares of the stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $6.94 per share, with a total value of $49,759.80. Following the completion of the acquisition, the executive vice president now directly owns 70,760 shares of the company’s stock, valued at $491,074.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Wesco Aircraft Holdings, Inc. (WAIR) traded up $0.05 during midday trading on Wednesday, reaching $6.80. The company had a trading volume of 1,276,874 shares, compared to its average volume of 583,205. Wesco Aircraft Holdings, Inc. has a 1 year low of $6.05 and a 1 year high of $15.55. The company has a quick ratio of 1.11, a current ratio of 3.87 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $686.09, a PE ratio of 11.90, a PEG ratio of 0.87 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 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.11). Wesco Aircraft had a negative net margin of 16.60% and a positive return on equity of 7.37%. The company had revenue of $361.60 million for the quarter, compared to analyst estimates of $363.20 million. During the same period last year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. sell-side analysts forecast that Wesco Aircraft Holdings, Inc. will post 0.66 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Wesco Aircraft by 17.6% during the second quarter. Victory Capital Management Inc. now owns 12,661 shares of the aerospace company’s stock valued at $137,000 after purchasing an additional 1,898 shares during the last quarter. Huber Capital Management LLC acquired a new position in Wesco Aircraft during the third quarter valued at approximately $154,000. Aperio Group LLC acquired a new position in Wesco Aircraft during the second quarter valued at approximately $186,000. Campbell & CO Investment Adviser LLC acquired a new position in Wesco Aircraft during the third quarter valued at approximately $242,000. Finally, Ramsey Quantitative Systems acquired a new position in Wesco Aircraft during the second quarter valued at approximately $278,000. 94.97% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on WAIR shares. Zacks Investment Research downgraded Wesco Aircraft from a “hold” rating to a “strong sell” rating in a report on Thursday, October 12th. BidaskClub downgraded Wesco Aircraft from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Cowen reiterated a “hold” rating and set a $7.00 price objective on shares of Wesco Aircraft in a report on Wednesday, November 29th. Deutsche Bank upgraded Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 price objective for the company in a report on Thursday, November 30th. Finally, ValuEngine downgraded Wesco Aircraft from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Wesco Aircraft presently has a consensus rating of “Hold” and a consensus target price of $9.30.
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.
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