Wesco Aircraft Holdings, Inc. (NYSE:WAIR) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Wesco Aircraft Holdings, Inc. (NYSE:WAIR) from a buy rating to a hold rating in a research note published on Friday, July 28th.

WAIR has been the topic of a number of other reports. Jefferies Group LLC raised Wesco Aircraft Holdings from an underperform rating to a hold rating and lifted their target price for the stock from $8.00 to $9.00 in a research report on Monday, May 15th. Zacks Investment Research lowered Wesco Aircraft Holdings from a hold rating to a strong sell rating in a research report on Saturday, July 22nd. ValuEngine lowered Wesco Aircraft Holdings from a buy rating to a hold rating in a research report on Friday, June 2nd. Citigroup Inc. lowered Wesco Aircraft Holdings from a buy rating to a neutral rating in a research report on Monday, May 1st. Finally, Cowen and Company reaffirmed a hold rating and set a $9.00 target price on shares of Wesco Aircraft Holdings in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Wesco Aircraft Holdings has a consensus rating of Hold and a consensus target price of $13.14.

Wesco Aircraft Holdings (WAIR) traded down 24.15% during midday trading on Friday, hitting $7.85. The company had a trading volume of 2,630,149 shares. The stock has a 50 day moving average of $10.60 and a 200 day moving average of $11.35. Wesco Aircraft Holdings has a 52-week low of $7.25 and a 52-week high of $15.78. The firm has a market cap of $782.54 million, a price-to-earnings ratio of 9.95 and a beta of 0.69.

Wesco Aircraft Holdings (NYSE:WAIR) last released its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.22 by $0.12. Wesco Aircraft Holdings had a net margin of 5.39% and a return on equity of 11.03%. The company had revenue of $363.90 million during the quarter, compared to analysts’ expectations of $379.32 million. During the same period last year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts anticipate that Wesco Aircraft Holdings will post $0.85 EPS for the current year.

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In other news, Director Thomas Bancroft acquired 150,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $9.45 per share, with a total value of $1,417,500.00. Following the completion of the acquisition, the director now directly owns 13,487 shares in the company, valued at $127,452.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders purchased 1,396,510 shares of company stock valued at $12,570,693. 10.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in WAIR. Cutter & CO Brokerage Inc. raised its stake in shares of Wesco Aircraft Holdings by 16.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 61,675 shares of the aerospace company’s stock valued at $703,000 after buying an additional 8,925 shares in the last quarter. FMR LLC raised its stake in shares of Wesco Aircraft Holdings by 28.4% in the fourth quarter. FMR LLC now owns 191,900 shares of the aerospace company’s stock valued at $2,869,000 after buying an additional 42,500 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Wesco Aircraft Holdings during the fourth quarter valued at $1,791,000. Citadel Advisors LLC purchased a new stake in shares of Wesco Aircraft Holdings during the first quarter valued at $3,721,000. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Wesco Aircraft Holdings during the first quarter valued at $1,534,000. 87.87% of the stock is owned by hedge funds and other 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.