Zacks Investment Research upgraded shares of Wesco Aircraft Holdings, Inc. (NYSE:WAIR) from a strong sell rating to a hold rating in a report published on Thursday.

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 equities analysts have also recently weighed in on WAIR. BidaskClub upgraded Wesco Aircraft Holdings from a sell rating to a hold rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $9.00 price objective on Wesco Aircraft Holdings and gave the company a hold rating in a report on Friday, June 16th. Cowen and Company reiterated a hold rating and set a $9.00 price objective on shares of Wesco Aircraft Holdings in a report on Monday, July 17th. ValuEngine upgraded Wesco Aircraft Holdings from a hold rating to a buy rating in a report on Tuesday, July 25th. Finally, TheStreet cut Wesco Aircraft Holdings from a c rating to a d+ rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Wesco Aircraft Holdings has an average rating of Hold and an average price target of $11.80.

Wesco Aircraft Holdings (NYSE:WAIR) traded up 0.52% during mid-day trading on Thursday, hitting $9.75. 618,902 shares of the stock were exchanged. The stock’s market capitalization is $970.90 million. Wesco Aircraft Holdings has a 12-month low of $6.95 and a 12-month high of $15.77. The firm has a 50-day moving average price of $8.74 and a 200-day moving average price of $9.95.

Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.12). Wesco Aircraft Holdings had a negative net margin of 12.26% and a positive return on equity of 9.42%. The business had revenue of $363.90 million for the quarter, compared to the consensus estimate of $379.32 million. During the same quarter last year, the firm earned $0.29 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts predict that Wesco Aircraft Holdings will post $0.69 earnings per share for the current fiscal year.

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In related news, major shareholder Makaira Partners Llc acquired 20,100 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were bought at an average price of $8.48 per share, for a total transaction of $170,448.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Bancroft acquired 27,841 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $7.70 per share, for a total transaction of $214,375.70. Following the purchase, the director now owns 13,487 shares in the company, valued at $103,849.90. The disclosure for this purchase can be found here. Insiders acquired a total of 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.

Several institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in shares of Wesco Aircraft Holdings by 1.9% during the 1st quarter. HighTower Advisors LLC now owns 19,368 shares of the aerospace company’s stock worth $221,000 after purchasing an additional 368 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Wesco Aircraft Holdings by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,175 shares of the aerospace company’s stock worth $490,000 after purchasing an additional 661 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Wesco Aircraft Holdings by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 74,448 shares of the aerospace company’s stock worth $808,000 after purchasing an additional 1,731 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Wesco Aircraft Holdings by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,661 shares of the aerospace company’s stock worth $137,000 after purchasing an additional 1,898 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Wesco Aircraft Holdings by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,053 shares of the aerospace company’s stock worth $2,692,000 after purchasing an additional 2,141 shares in the last quarter. Institutional investors own 93.73% of the company’s stock.

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.

Analyst Recommendations for Wesco Aircraft Holdings (NYSE:WAIR)

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