AAR (NYSE:AIR) Trading Down 4.6% – Here’s Why

AAR Corp. (NYSE:AIR)’s share price was down 4.6% during trading on Thursday . The stock traded as low as $112.53 and last traded at $111.84. 168,575 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 459,908 shares. The stock had previously closed at $117.23.

Analysts Set New Price Targets

AIR has been the topic of several recent research reports. Guggenheim began coverage on AAR in a report on Monday. They set a “neutral” rating on the stock. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Jefferies Financial Group raised their target price on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of AAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Price Performance

The stock has a market capitalization of $4.49 billion, a P/E ratio of 23.32 and a beta of 1.11. The company’s 50 day simple moving average is $134.12 and its two-hundred day simple moving average is $123.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to analyst estimates of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. As a group, equities analysts expect that AAR Corp. will post 5.92 EPS for the current fiscal year.

Institutional Trading of AAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in AAR in the second quarter valued at approximately $3,630,000. Deutsche Bank AG acquired a new stake in AAR in the second quarter worth $8,640,000. First Trust Advisors LP boosted its position in shares of AAR by 20.4% during the first quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company’s stock worth $9,933,000 after purchasing an additional 15,345 shares in the last quarter. EFG International AG bought a new position in shares of AAR during the second quarter worth $4,111,000. Finally, Principal Financial Group Inc. grew its holdings in shares of AAR by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock valued at $73,961,000 after buying an additional 31,583 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

About AAR

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR’s offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America, Europe, Asia and other international markets.