Longbow Research initiated coverage on shares of Wesco Aircraft (NYSE:WAIR) in a report released on Thursday, Marketbeat.com reports. The firm issued a neutral rating on the aerospace company’s stock.
WAIR has been the topic of a number of other research reports. BidaskClub raised shares of Wesco Aircraft from a hold rating to a buy rating in a research report on Saturday, September 16th. SunTrust Banks reaffirmed a buy rating and set a $12.00 target price on shares of Wesco Aircraft in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Wesco Aircraft from a strong sell rating to a hold rating in a research report on Thursday, October 5th. Cowen reaffirmed a hold rating and set a $7.00 target price on shares of Wesco Aircraft in a research report on Wednesday, November 29th. Finally, Deutsche Bank raised shares of Wesco Aircraft from a sell rating to a hold rating and set a $7.50 target price on the stock in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Wesco Aircraft currently has an average rating of Hold and a consensus price target of $9.30.
Shares of Wesco Aircraft (NYSE WAIR) opened at $7.65 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.87 and a quick ratio of 1.11. Wesco Aircraft has a one year low of $6.05 and a one year high of $15.55. The firm has a market cap of $761.36, a price-to-earnings ratio of -3.19, a PEG ratio of 0.99 and a beta of 0.66.
In other news, EVP Declan O. Grant bought 7,170 shares of Wesco Aircraft stock in a transaction dated Monday, December 11th. The shares were bought at an average price of $6.94 per share, for a total transaction of $49,759.80. Following the purchase, the executive vice president now owns 70,760 shares of the company’s stock, valued at $491,074.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in WAIR. Victory Capital Management Inc. increased its stake 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 purchasing an additional 1,898 shares in the last quarter. Huber Capital Management LLC bought a new position in shares of Wesco Aircraft during the 3rd quarter worth approximately $154,000. Aperio Group LLC bought a new position in shares of Wesco Aircraft during the 2nd quarter worth approximately $186,000. Ramsey Quantitative Systems bought a new position in shares of Wesco Aircraft during the 2nd quarter worth approximately $278,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Wesco Aircraft during the 3rd quarter worth approximately $242,000. Institutional investors own 94.88% of the company’s stock.
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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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