Wesco Aircraft (WAIR) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Wesco Aircraft (NYSE:WAIR) from a buy rating to a hold rating in a report released on Saturday morning.

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. “

WAIR has been the topic of a number of other reports. ValuEngine downgraded shares of Wesco Aircraft from a buy rating to a hold rating in a research report on Thursday, August 17th. BidaskClub raised shares of Wesco Aircraft from a hold rating to a buy rating in a research report on Saturday, September 16th. TheStreet downgraded shares of Wesco Aircraft from a c rating to a d+ rating in a research report on Tuesday, August 8th. Deutsche Bank raised shares of Wesco Aircraft from a sell rating to a hold rating and set a $7.50 target price on the stock in a research report on Thursday, November 30th. Finally, Cowen reaffirmed a hold rating on shares of Wesco Aircraft in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $9.30.

Wesco Aircraft (NYSE:WAIR) opened at $7.10 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.87 and a quick ratio of 1.11. The company has a market cap of $708.47, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.93 and a beta of 0.66. Wesco Aircraft has a 52-week low of $6.05 and a 52-week high of $15.78.

Wesco Aircraft (NYSE:WAIR) last posted its earnings results on Tuesday, November 28th. The aerospace company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11). The company had revenue of $361.60 million during the quarter, compared to analysts’ expectations of $363.20 million. Wesco Aircraft had a negative net margin of 16.60% and a positive return on equity of 7.37%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. research analysts predict that Wesco Aircraft will post 0.66 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of WAIR. Teachers Advisors LLC grew its position in Wesco Aircraft by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 133,157 shares of the aerospace company’s stock worth $1,518,000 after purchasing an additional 3,706 shares during the last quarter. Vanguard Group Inc. grew its position in Wesco Aircraft by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,515,524 shares of the aerospace company’s stock worth $51,477,000 after purchasing an additional 188,914 shares during the last quarter. Geode Capital Management LLC grew its position in Wesco Aircraft by 11.1% during the 1st quarter. Geode Capital Management LLC now owns 474,508 shares of the aerospace company’s stock worth $5,408,000 after purchasing an additional 47,335 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Wesco Aircraft by 5.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 245,912 shares of the aerospace company’s stock worth $2,804,000 after purchasing an additional 13,479 shares during the last quarter. Finally, State Street Corp grew its position in Wesco Aircraft by 22.0% during the 1st quarter. State Street Corp now owns 1,800,202 shares of the aerospace company’s stock worth $20,525,000 after purchasing an additional 324,952 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

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About Wesco Aircraft

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.

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