Shares of AAR Corp. (NYSE:AIR) hit a new 52-week high during trading on Thursday . The company traded as high as $39.48 and last traded at $39.53, with a volume of 32,750 shares trading hands. The stock had previously closed at $39.18.

A number of brokerages have commented on AIR. Canaccord Genuity began coverage on shares of AAR Corp. in a research note on Wednesday, September 6th. They issued a “hold” rating and a $40.00 price target for the company. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub upgraded shares of AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Finally, Seaport Global Securities began coverage on shares of AAR Corp. in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. AAR Corp. has a consensus rating of “Hold” and an average target price of $45.67.

The stock has a 50 day moving average price of $36.33 and a 200-day moving average price of $35.43. The company has a market capitalization of $1.33 billion, a P/E ratio of 23.58 and a beta of 1.37.

AAR Corp. (NYSE:AIR) last posted its quarterly earnings results on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $439.20 million during the quarter, compared to analyst estimates of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.66%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities analysts forecast that AAR Corp. will post $1.77 earnings per share for the current year.

AAR Corp. declared that its board has authorized a stock buyback plan on Tuesday, July 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 20.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other AAR Corp. news, Director Ronald B. Woodard sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $37.22, for a total transaction of $744,400.00. Following the sale, the director now directly owns 20,073 shares of the company’s stock, valued at $747,117.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Regan sold 28,640 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total transaction of $1,046,219.20. Following the sale, the vice president now directly owns 114,193 shares in the company, valued at $4,171,470.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,840 shares of company stock valued at $3,401,115. 9.33% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its holdings in AAR Corp. by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 33,488 shares of the aerospace company’s stock valued at $1,164,000 after purchasing an additional 93 shares during the last quarter. Anchor Capital Advisors LLC lifted its holdings in AAR Corp. by 0.6% during the second quarter. Anchor Capital Advisors LLC now owns 26,613 shares of the aerospace company’s stock valued at $925,000 after purchasing an additional 150 shares during the last quarter. Texas Permanent School Fund lifted its holdings in AAR Corp. by 0.8% during the second quarter. Texas Permanent School Fund now owns 23,309 shares of the aerospace company’s stock valued at $810,000 after purchasing an additional 195 shares during the last quarter. Arizona State Retirement System lifted its holdings in AAR Corp. by 1.8% during the first quarter. Arizona State Retirement System now owns 16,646 shares of the aerospace company’s stock valued at $560,000 after purchasing an additional 300 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in AAR Corp. by 10.1% during the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 309 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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AAR Corp. Company Profile

AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.

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