Wesco Aircraft Holdings, Inc. (NYSE:WAIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $11.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.79% from the company’s current price.

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. “

Several other brokerages also recently weighed in on WAIR. BidaskClub upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC restated a “hold” rating and set a $9.00 target price on shares of Wesco Aircraft Holdings in a research note on Sunday, July 23rd. ValuEngine upgraded Wesco Aircraft Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company restated a “hold” rating and set a $9.00 target price on shares of Wesco Aircraft Holdings in a research note on Monday, July 17th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $12.00 target price on shares of Wesco Aircraft Holdings in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.60.

Shares of Wesco Aircraft Holdings (WAIR) opened at 9.50 on Thursday. Wesco Aircraft Holdings has a one year low of $6.95 and a one year high of $15.77. The company’s 50 day moving average price is $9.09 and its 200 day moving average price is $9.81. The stock’s market capitalization is $946.00 million.

Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.12). The company had revenue of $363.90 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. On average, equities analysts expect that Wesco Aircraft Holdings will post $0.69 earnings per share for the current year.

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In other news, CEO Todd Renehan purchased 5,100 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average price of $7.79 per share, with a total value of $39,729.00. Following the acquisition, the chief executive officer now directly owns 34,380 shares in the company, valued at approximately $267,820.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas Bancroft purchased 369,359 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $7.79 per share, with a total value of $2,877,306.61. Following the acquisition, the director now owns 13,487 shares in the company, valued at $105,063.73. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,068,719 shares of company stock valued at $8,385,130. 10.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new position in Wesco Aircraft Holdings in the 1st quarter valued at approximately $123,000. Aperio Group LLC acquired a new position in Wesco Aircraft Holdings in the 2nd quarter valued at approximately $186,000. HighTower Advisors LLC raised its holdings in Wesco Aircraft Holdings by 1.9% in the 1st quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 368 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Wesco Aircraft Holdings in the 2nd quarter valued at approximately $278,000. Finally, Voya Investment Management LLC raised its holdings in Wesco Aircraft Holdings by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 26,009 shares of the aerospace company’s stock valued at $282,000 after acquiring an additional 5,376 shares in the last quarter. 93.73% of the stock is owned by hedge funds and other institutional investors.

Wesco Aircraft Holdings Company Profile

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 Holdings (NYSE:WAIR)

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