Wesco Aircraft (NYSE:WAIR) Cut to Strong Sell at Zacks Investment Research

Wesco Aircraft (NYSE:WAIR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, December 19th.

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 subject of a number of other research reports. Deutsche Bank raised shares of Wesco Aircraft from a “sell” rating to a “hold” rating and set a $7.50 target price for the company in a report on Thursday, November 30th. BidaskClub raised shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 27th. ValuEngine raised shares of Wesco Aircraft from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. SunTrust Banks reissued a “buy” rating and issued a $12.00 price target on shares of Wesco Aircraft in a report on Monday, October 2nd. Finally, Cowen reissued a “hold” rating and issued a $7.00 price target on shares of Wesco Aircraft in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.30.

Wesco Aircraft (NYSE:WAIR) traded up $0.18 during mid-day trading on Tuesday, reaching $7.75. 561,944 shares of the company traded hands, compared to its average volume of 878,268. The company has a quick ratio of 1.11, a current ratio of 3.87 and a debt-to-equity ratio of 1.22. Wesco Aircraft has a 1 year low of $6.05 and a 1 year high of $15.55. The company has a market cap of $771.31, a PE ratio of -3.23, a PEG ratio of 0.99 and a beta of 0.66.

Wesco Aircraft (NYSE:WAIR) last posted its quarterly earnings data on Tuesday, November 28th. The aerospace company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.11). Wesco Aircraft had a positive return on equity of 7.37% and a negative net margin of 16.60%. The company had revenue of $361.60 million during the quarter, compared to the consensus estimate of $363.20 million. During the same quarter last year, the firm earned $0.30 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. equities research analysts anticipate that Wesco Aircraft will post 0.64 earnings per share for the current year.

In other Wesco Aircraft news, EVP Declan O. Grant purchased 7,170 shares of the business’s stock in a transaction on Monday, December 11th. The shares were purchased at an average cost of $6.94 per share, with a total value of $49,759.80. Following the transaction, the executive vice president now directly owns 70,760 shares of the company’s stock, valued at approximately $491,074.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of WAIR. Cove Street Capital LLC lifted its position in Wesco Aircraft by 146.6% during the 2nd quarter. Cove Street Capital LLC now owns 4,375,845 shares of the aerospace company’s stock worth $47,478,000 after buying an additional 2,601,134 shares in the last quarter. Makaira Partners LLC lifted its position in Wesco Aircraft by 18.0% during the 2nd quarter. Makaira Partners LLC now owns 9,649,938 shares of the aerospace company’s stock worth $104,702,000 after buying an additional 1,474,630 shares in the last quarter. Northern Trust Corp lifted its position in Wesco Aircraft by 79.5% during the 2nd quarter. Northern Trust Corp now owns 1,308,517 shares of the aerospace company’s stock worth $14,198,000 after buying an additional 579,446 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Wesco Aircraft by 9.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,088,113 shares of the aerospace company’s stock worth $57,228,000 after buying an additional 522,991 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Wesco Aircraft by 13.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,061,409 shares of the aerospace company’s stock valued at $44,065,000 after purchasing an additional 473,010 shares during the period. 94.88% of the stock is currently owned by hedge funds and other 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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