Wesco Aircraft Holdings Inc (NYSE:WAIR) Sees Large Drop in Short Interest

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Wesco Aircraft Holdings Inc (NYSE:WAIR) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,229,200 shares, a drop of 35.7% from the July 31st total of 1,912,800 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 828,600 shares, the short-interest ratio is presently 1.5 days.

Institutional investors and hedge funds have recently modified their holdings of the company. First Quadrant L P CA purchased a new stake in Wesco Aircraft during the second quarter worth $38,000. Canton Hathaway LLC purchased a new position in Wesco Aircraft in the 2nd quarter worth $102,000. BNP Paribas Arbitrage SA raised its stake in Wesco Aircraft by 191.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,564 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 8,257 shares during the last quarter. Bank of Montreal Can raised its stake in Wesco Aircraft by 72.9% in the 2nd quarter. Bank of Montreal Can now owns 10,578 shares of the aerospace company’s stock worth $117,000 after acquiring an additional 4,459 shares during the last quarter. Finally, Loews Corp purchased a new position in Wesco Aircraft in the 1st quarter worth $126,000. 86.05% of the stock is owned by institutional investors.

Shares of WAIR stock traded up $0.01 during mid-day trading on Friday, reaching $10.95. 773,640 shares of the stock traded hands, compared to its average volume of 706,796. The stock’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $9.83. Wesco Aircraft has a 1-year low of $7.38 and a 1-year high of $11.79. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.44. The company has a quick ratio of 1.20, a current ratio of 3.84 and a debt-to-equity ratio of 1.05.

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

WAIR has been the topic of several analyst reports. UBS Group raised shares of Wesco Aircraft from a “sell” rating to a “neutral” rating and upped their target price for the stock from $9.75 to $11.05 in a report on Monday, August 12th. Cowen reissued a “hold” rating and set a $11.50 price target on shares of Wesco Aircraft in a research note on Friday, August 9th. Zacks Investment Research lowered Wesco Aircraft from a “buy” rating to a “hold” rating in a research note on Sunday, July 14th. Finally, ValuEngine raised Wesco Aircraft from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th.

Wesco Aircraft Company Profile

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.

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