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

Wesco Aircraft Holdings Inc (NYSE:WAIR) was the recipient of a large 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. Based on an average daily trading volume, of 828,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.9% of the shares of the stock are sold short.

Shares of Wesco Aircraft stock traded up $0.01 on Friday, reaching $10.95. 773,640 shares of the stock were exchanged, compared to its average volume of 706,796. Wesco Aircraft has a 1-year low of $7.38 and a 1-year high of $11.79. The company has a current ratio of 3.84, a quick ratio of 1.20 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average price of $10.82 and a two-hundred day moving average price of $9.83. The firm has a market capitalization of $1.09 billion, a PE ratio of 14.60, a PEG ratio of 1.07 and a beta of 0.44.

Wesco Aircraft (NYSE:WAIR) last issued its quarterly earnings results on Friday, August 9th. The aerospace company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Wesco Aircraft had a net margin of 2.38% and a return on equity of 11.41%. The business had revenue of $442.37 million for the quarter, compared to analyst estimates of $435.60 million. During the same period in the previous year, the business posted $0.20 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Wesco Aircraft will post 0.85 EPS for the current year.

A number of brokerages recently weighed in on WAIR. UBS Group raised shares of Wesco Aircraft from a “sell” rating to a “neutral” rating and raised their price target for the company from $9.75 to $11.05 in a research note on Monday, August 12th. ValuEngine raised shares of Wesco Aircraft from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Zacks Investment Research lowered shares of Wesco Aircraft from a “buy” rating to a “hold” rating in a research note on Sunday, July 14th. Finally, Cowen reiterated a “hold” rating and set a $11.50 price target on shares of Wesco Aircraft in a research note on Friday, August 9th.

Institutional investors have recently modified their holdings of the company. First Quadrant L P CA acquired a new position in Wesco Aircraft during the second quarter worth about $38,000. Canton Hathaway LLC acquired a new position in Wesco Aircraft during the second quarter worth about $102,000. BNP Paribas Arbitrage SA grew its position in Wesco Aircraft by 191.7% during the first quarter. BNP Paribas Arbitrage SA now owns 12,564 shares of the aerospace company’s stock worth $110,000 after buying an additional 8,257 shares during the period. Bank of Montreal Can grew its position in Wesco Aircraft by 72.9% during the second quarter. Bank of Montreal Can now owns 10,578 shares of the aerospace company’s stock worth $117,000 after buying an additional 4,459 shares during the period. Finally, Loews Corp acquired a new position in Wesco Aircraft during the first quarter worth about $126,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

About Wesco Aircraft

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.

Recommended Story: CD Ladder

Receive News & Ratings for Wesco Aircraft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wesco Aircraft and related companies with MarketBeat.com's FREE daily email newsletter.