Wesco Aircraft Holdings Inc (WAIR) is Downgraded by Jefferies to Underperform, Lowers Price Target to $ 12

Wesco Aircraft Holdings Inc (WAIR) was Downgraded by Jefferies to ” Underperform” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $14 . Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Wesco Aircraft Holdings Inc. Shares were Reiterated by Rosenblatt on Jun 28, 2016 to “Neutral” and Lowered the Price Target to $ 12 from a previous price target of $13 .

On the company’s financial health, Wesco Aircraft Holdings Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.27. The company had revenue of $376.70 million for the quarter, compared to analysts expectations of $377.16 million. The company’s revenue was down -2.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.29 EPS.

Wesco Aircraft Holdings Inc opened for trading at $14.04 and hit $14.0501 on the upside on Friday, eventually ending the session at $14.03, with a gain of 0.50% or 0.07 points. The heightened volatility saw the trading volume jump to 2,43,994 shares. Company has a market cap of $1,383 M.

In a different news, on Jun 22, 2016, David J. Castagnola (CEO) purchased 1,078 shares at $13.88 per share price. According to the SEC, on May 12, 2016, Thomas Bancroft (director) purchased 6,358 shares at $14.32 per share price. On Feb 26, 2015, Robert D Paulson (director) purchased 5,000 shares at $15.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Wesco Aircraft Holdings Inc. formerly Wesco Holdings Inc. is a distributor and provider of supply chain management solutions to the global aerospace industry. The Company’s services range from traditional distribution to the management of supplier relationships quality assurance kitting just-in-time (JIT) delivery and point-of-use inventory management. The Company operates business through two segments which include North America and Rest of World. The Company supplies 575000 active stock-keeping units (SKUs) including hardware chemicals electronic components bearings tools and machined parts. The Company serves 8300 customers which includes commercial military and general aviation sectors including the original equipment manufacturers (OEMs) and their subcontractors. The Company also services industrial customers which include customers in the automotive energy pharmaceutical and electronics sectors.

Wesco Aircraft Holdings Inc

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