Wesco Aircraft (NYSE:WAIR) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Wesco Aircraft (NYSE:WAIR) from a sell rating to a hold rating in a report released on Saturday morning, ValuEngine reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Wesco Aircraft from a buy rating to a hold rating in a research report on Sunday, July 14th. Cowen reaffirmed a hold rating and issued a $11.50 price objective on shares of Wesco Aircraft in a research report on Friday, August 9th.

Shares of WAIR stock opened at $11.00 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. The company has a current ratio of 3.97, a quick ratio of 1.17 and a debt-to-equity ratio of 1.08. Wesco Aircraft has a 52 week low of $7.38 and a 52 week high of $14.23. The stock has a 50-day moving average of $10.76.



Wesco Aircraft (NYSE:WAIR) last announced its quarterly earnings data on Friday, August 9th. The aerospace company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $442.37 million for the quarter, compared to analyst estimates of $435.60 million. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.51%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, analysts expect that Wesco Aircraft will post 0.85 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. First Quadrant L P CA bought a new stake in shares of Wesco Aircraft in the second quarter valued at approximately $38,000. Canton Hathaway LLC bought a new stake in shares of Wesco Aircraft in the second quarter valued at approximately $102,000. BNP Paribas Arbitrage SA raised its position in shares of Wesco Aircraft by 191.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,564 shares of the aerospace company’s stock valued at $110,000 after purchasing an additional 8,257 shares during the period. Bank of Montreal Can raised its position in shares of Wesco Aircraft by 72.9% in the second quarter. Bank of Montreal Can now owns 10,578 shares of the aerospace company’s stock valued at $117,000 after purchasing an additional 4,459 shares during the period. Finally, Loews Corp bought a new stake in shares of Wesco Aircraft in the first quarter valued at approximately $126,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Bid-Ask Spread

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

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