ValuEngine Lowers Wesco Aircraft (NYSE:WAIR) to Sell

ValuEngine lowered shares of Wesco Aircraft (NYSE:WAIR) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other research analysts have also issued reports on WAIR. Cowen reiterated a hold rating and issued a $9.00 price objective on shares of Wesco Aircraft in a report on Thursday, May 2nd. Zacks Investment Research lowered shares of Wesco Aircraft from a buy rating to a hold rating in a report on Sunday, July 14th.

Shares of Wesco Aircraft stock traded down $0.02 during trading on Thursday, hitting $10.41. 361,396 shares of the company’s stock traded hands, compared to its average volume of 370,960. The company has a current ratio of 3.97, a quick ratio of 1.17 and a debt-to-equity ratio of 1.08. The business’s fifty day simple moving average is $10.73. Wesco Aircraft has a twelve month low of $7.38 and a twelve month high of $14.23. The firm has a market cap of $1.04 billion, a P/E ratio of 13.37, a PEG ratio of 1.02 and a beta of 0.44.

Wesco Aircraft (NYSE:WAIR) last announced its earnings results on Thursday, May 2nd. The aerospace company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $426.47 million during the quarter, compared to the consensus estimate of $414.99 million. Wesco Aircraft had a net margin of 2.22% and a return on equity of 11.22%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Wesco Aircraft will post 0.85 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association raised its position in shares of Wesco Aircraft by 10.7% in the 4th quarter. United Services Automobile Association now owns 16,559 shares of the aerospace company’s stock worth $131,000 after acquiring an additional 1,599 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Wesco Aircraft by 3.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 59,586 shares of the aerospace company’s stock worth $524,000 after buying an additional 1,947 shares during the last quarter. Swiss National Bank boosted its stake in shares of Wesco Aircraft by 2.3% in the second quarter. Swiss National Bank now owns 102,000 shares of the aerospace company’s stock worth $1,132,000 after buying an additional 2,300 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Wesco Aircraft in the second quarter worth about $38,000. Finally, Aperio Group LLC boosted its stake in shares of Wesco Aircraft by 4.3% in the second quarter. Aperio Group LLC now owns 97,031 shares of the aerospace company’s stock worth $1,077,000 after buying an additional 3,984 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

About Wesco Aircraft

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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