Short Interest in Wesco Aircraft Holdings Inc (NYSE:WAIR) Decreases By 15.8%

Wesco Aircraft Holdings Inc (NYSE:WAIR) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 789,900 shares, a drop of 15.8% from the August 30th total of 937,600 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average trading volume of 974,000 shares, the days-to-cover ratio is presently 0.8 days.

WAIR stock traded down $0.01 during mid-day trading on Monday, hitting $10.99. 356,219 shares of the company were exchanged, compared to its average volume of 716,247. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.20 and a current ratio of 3.84. The firm has a market cap of $1.10 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.90 and a beta of 0.43. The firm’s 50 day simple moving average is $10.97 and its 200 day simple moving average is $10.22. Wesco Aircraft has a 1-year low of $7.38 and a 1-year high of $11.41.

Wesco Aircraft (NYSE:WAIR) last announced its earnings results on Friday, August 9th. The aerospace company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $442.37 million for the quarter, compared to the consensus estimate of $435.60 million. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.41%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. On average, equities research analysts predict that Wesco Aircraft will post 0.85 EPS for the current fiscal year.

Several research analysts recently weighed in on WAIR shares. UBS Group raised shares of Wesco Aircraft from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $9.75 to $11.05 in a research note on Monday, August 12th. Zacks Investment Research lowered shares of Wesco Aircraft from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. ValuEngine lowered shares of Wesco Aircraft from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Finally, Cowen reissued a “hold” rating and set a $11.50 price objective on shares of Wesco Aircraft in a research note on Friday, August 9th.

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Wesco Aircraft by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,000,145 shares of the aerospace company’s stock worth $33,301,000 after buying an additional 226,210 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Wesco Aircraft by 6,297.5% in the second quarter. Victory Capital Management Inc. now owns 1,853,302 shares of the aerospace company’s stock valued at $20,572,000 after purchasing an additional 1,824,333 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Wesco Aircraft in the second quarter valued at approximately $9,612,000. Nuveen Asset Management LLC acquired a new stake in shares of Wesco Aircraft in the second quarter valued at approximately $8,268,000. Finally, Marshall Wace LLP raised its holdings in shares of Wesco Aircraft by 42.5% in the second quarter. Marshall Wace LLP now owns 722,613 shares of the aerospace company’s stock valued at $8,021,000 after purchasing an additional 215,543 shares during the last quarter. Hedge funds and other institutional investors own 86.02% 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.

Further Reading: What are different types of coverage ratios?

Receive News & Ratings for Wesco Aircraft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wesco Aircraft and related companies with MarketBeat.com's FREE daily email newsletter.