SunTrust Banks, Inc. Reiterates “Buy” Rating for Wesco Aircraft Holdings, Inc. (WAIR)
Wesco Aircraft Holdings, Inc. (NYSE:WAIR)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks, Inc. in a report released on Monday. They currently have a $12.00 price objective on the aerospace company’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 25.00% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. TheStreet cut Wesco Aircraft Holdings from a “c” rating to a “d+” rating in a research note on Tuesday, August 8th. BidaskClub upgraded Wesco Aircraft Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 27th. Cowen and Company reiterated a “hold” rating on shares of Wesco Aircraft Holdings in a research note on Wednesday, August 9th. ValuEngine lowered Wesco Aircraft Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research raised Wesco Aircraft Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wesco Aircraft Holdings has a consensus rating of “Hold” and an average price target of $12.50.
Shares of Wesco Aircraft Holdings (WAIR) opened at 9.60 on Monday. Wesco Aircraft Holdings has a 52 week low of $6.95 and a 52 week high of $15.77. The stock has a 50 day moving average price of $8.64 and a 200-day moving average price of $9.96. The firm’s market capitalization is $955.96 million.
Wesco Aircraft Holdings (NYSE:WAIR) last posted its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.12). The firm had revenue of $363.90 million for the quarter, compared to analyst estimates of $379.32 million. Wesco Aircraft Holdings had a positive return on equity of 9.42% and a negative net margin of 12.26%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. On average, equities research analysts forecast that Wesco Aircraft Holdings will post $0.69 earnings per share for the current year.
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In other news, major shareholder Makaira Partners Llc purchased 123,067 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of $7.81 per share, with a total value of $961,153.27. Following the completion of the purchase, the insider now owns 9,941,177 shares of the company’s stock, valued at approximately $77,640,592.37. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Bancroft purchased 369,359 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of $7.79 per share, for a total transaction of $2,877,306.61. Following the completion of the purchase, the director now directly owns 13,487 shares of the company’s stock, valued at approximately $105,063.73. The disclosure for this purchase can be found here. Insiders acquired 1,068,719 shares of company stock worth $8,385,130 in the last 90 days. Company insiders own 10.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management Inc. bought a new stake in shares of Wesco Aircraft Holdings in the second quarter worth $2,363,000. Citadel Advisors LLC bought a new position in Wesco Aircraft Holdings during the 1st quarter worth $3,721,000. Oppenheimer Asset Management Inc. lifted its holdings in Wesco Aircraft Holdings by 158.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 139,243 shares of the aerospace company’s stock worth $1,511,000 after buying an additional 85,461 shares during the period. Chartwell Investment Partners LLC lifted its holdings in Wesco Aircraft Holdings by 316.9% during the 1st quarter. Chartwell Investment Partners LLC now owns 224,081 shares of the aerospace company’s stock worth $2,555,000 after buying an additional 170,338 shares during the period. Finally, Menta Capital LLC acquired a new position in Wesco Aircraft Holdings during the 1st quarter worth about $1,256,000. 93.73% of the stock is owned by institutional investors.
About Wesco Aircraft Holdings
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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