Wesco Aircraft (WAIR) Upgraded by Deutsche Bank to Hold

Deutsche Bank upgraded shares of Wesco Aircraft (NYSE:WAIR) from a sell rating to a hold rating in a report released on Thursday, MarketBeat.com reports. They currently have $7.50 price objective on the aerospace company’s stock.

Several other equities analysts have also issued reports on WAIR. Cowen restated a hold rating on shares of Wesco Aircraft in a research note on Wednesday, August 9th. TheStreet lowered Wesco Aircraft from a c rating to a d+ rating in a research note on Tuesday, August 8th. ValuEngine lowered Wesco Aircraft from a buy rating to a hold rating in a research note on Thursday, August 17th. BidaskClub upgraded Wesco Aircraft from a hold rating to a buy rating in a research note on Saturday, September 16th. Finally, SunTrust Banks reiterated a buy rating and issued a $12.00 price objective on shares of Wesco Aircraft in a research note on Monday, October 2nd. 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. Wesco Aircraft presently has an average rating of Hold and a consensus target price of $9.30.

Wesco Aircraft (NYSE:WAIR) opened at $7.30 on Thursday. Wesco Aircraft has a 12-month low of $6.05 and a 12-month high of $15.78. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.19 and a current ratio of 3.87. The firm has a market capitalization of $725.87, a PE ratio of 12.59, a P/E/G ratio of 0.84 and a beta of 0.67.

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

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its holdings in Wesco Aircraft by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 12,661 shares of the aerospace company’s stock worth $137,000 after buying an additional 1,898 shares in the last quarter. Huber Capital Management LLC acquired a new position in Wesco Aircraft during the 3rd quarter worth $154,000. Aperio Group LLC acquired a new position in shares of Wesco Aircraft in the 2nd quarter valued at $186,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Wesco Aircraft in the 3rd quarter valued at $242,000. Finally, Ramsey Quantitative Systems acquired a new position in shares of Wesco Aircraft in the 2nd quarter valued at $278,000. 94.87% 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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