AAR Corp. (NYSE:AIR) Downgraded by BidaskClub
BidaskClub lowered shares of AAR Corp. (NYSE:AIR) from a hold rating to a sell rating in a research report released on Friday.
A number of other research firms also recently commented on AIR. Zacks Investment Research downgraded AAR Corp. from a buy rating to a hold rating in a report on Tuesday, June 20th. Noble Financial reaffirmed a buy rating on shares of AAR Corp. in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. AAR Corp. has a consensus rating of Buy and a consensus target price of $46.80.
Shares of AAR Corp. (NYSE AIR) opened at 37.40 on Friday. The firm has a 50-day moving average price of $35.72 and a 200-day moving average price of $34.41. AAR Corp. has a 52 week low of $23.34 and a 52 week high of $38.75. The stock has a market cap of $1.26 billion, a PE ratio of 22.89 and a beta of 1.37.
AAR Corp. (NYSE:AIR) last released its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company had revenue of $492.30 million for the quarter, compared to the consensus estimate of $486.93 million. During the same quarter last year, the business posted $0.32 EPS. AAR Corp.’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that AAR Corp. will post $1.78 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Friday, July 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, July 19th. AAR Corp.’s dividend payout ratio (DPR) is 18.18%.
AAR Corp. announced that its Board of Directors has initiated a stock repurchase program on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 20.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Anthony Anderson sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total value of $123,235.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the sale, the vice president now directly owns 114,193 shares in the company, valued at approximately $4,171,470.29. The disclosure for this sale can be found here. In the last three months, insiders sold 95,340 shares of company stock worth $3,524,350. Company insiders own 8.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after buying an additional 309 shares during the period. State of Alaska Department of Revenue increased its stake in shares of AAR Corp. by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock valued at $118,000 after buying an additional 30 shares during the period. Victory Capital Management Inc. increased its stake in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares during the period. FNY Partners Fund LP bought a new stake in shares of AAR Corp. during the first quarter valued at about $127,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of AAR Corp. by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after buying an additional 715 shares during the period. 88.75% of the stock is currently owned by institutional investors and hedge funds.
About AAR Corp.
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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