Wesco Aircraft Holdings Inc (NYSE:WAIR) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 3,293,394 shares traded hands during trading, an increase of 472% from the previous session’s volume of 576,009 shares.The stock last traded at $10.53 and had previously closed at $8.38.
The aerospace company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Wesco Aircraft had a net margin of 2.45% and a return on equity of 11.23%. The business had revenue of $426.47 million for the quarter, compared to analysts’ expectations of $414.99 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Wesco Aircraft’s revenue was up 9.3% compared to the same quarter last year.
Several analysts have recently commented on WAIR shares. Cowen reissued a “hold” rating and set a $9.00 price target on shares of Wesco Aircraft in a research note on Wednesday, February 13th. ValuEngine cut shares of Wesco Aircraft from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research cut shares of Wesco Aircraft from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th.
The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.86 and a beta of 0.59. The company has a current ratio of 3.90, a quick ratio of 1.07 and a debt-to-equity ratio of 1.10.
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About Wesco Aircraft (NYSE:WAIR)
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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