Wesco Aircraft Holdings Inc (WAIR) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.28. The company posted revenue of $375.20 million in the period, compared to analysts expectations of $381.78 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.
Many Wall Street Analysts have commented on Wesco Aircraft Holdings Inc. Shares were Downgraded by Jefferies on Jul 18, 2016 to ” Underperform” and Lowered the Price Target to $ 12 from a previous price target of $14 .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 .
Wesco Aircraft Holdings Inc closed down -0.25 points or -1.93% at $12.68 with 4,24,943 shares getting traded on Tusday. Post opening the session at $12.91, the shares hit an intraday low of $12.65 and an intraday high of $12.9295 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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 Companys 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.