Wesco Aircraft (WAIR) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Wesco Aircraft (NYSE:WAIR) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. They currently have $9.50 price objective on the aerospace company’s stock.

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. “

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Wesco Aircraft from a hold rating to a sell rating in a report on Friday, March 1st. Cowen reiterated a hold rating and issued a $9.00 target price on shares of Wesco Aircraft in a report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $9.83.

NYSE WAIR opened at $8.25 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.07 and a current ratio of 3.90. Wesco Aircraft has a 12 month low of $7.38 and a 12 month high of $14.23. The company has a market capitalization of $839.90 million, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 0.86 and a beta of 0.62.

Wesco Aircraft (NYSE:WAIR) last released its earnings results on Thursday, January 31st. The aerospace company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Wesco Aircraft had a net margin of 2.45% and a return on equity of 11.23%. The business had revenue of $395.31 million for the quarter, compared to the consensus estimate of $385.37 million. On average, research analysts expect that Wesco Aircraft will post 0.81 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new position in shares of Wesco Aircraft in the fourth quarter worth approximately $64,000. CWM Advisors LLC purchased a new position in shares of Wesco Aircraft in the fourth quarter worth approximately $81,000. Mackenzie Financial Corp purchased a new position in shares of Wesco Aircraft in the third quarter worth approximately $130,000. SG Americas Securities LLC purchased a new position in shares of Wesco Aircraft in the third quarter worth approximately $139,000. Finally, United Services Automobile Association purchased a new position in shares of Wesco Aircraft in the third quarter worth approximately $168,000. Institutional investors and hedge funds own 89.76% 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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