Noble Financial Reiterates “Buy” Rating for AAR Corp. (AIR)
AAR Corp. (NYSE:AIR)‘s stock had its “buy” rating reaffirmed by Noble Financial in a report issued on Friday.
Other research analysts have also issued reports about the company. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, May 23rd. BidaskClub lowered AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.80.
AAR Corp. (NYSE AIR) opened at 35.29 on Friday. The stock’s 50 day moving average price is $36.04 and its 200 day moving average price is $34.62. The company has a market capitalization of $1.19 billion, a P/E ratio of 21.60 and a beta of 1.38. AAR Corp. has a one year low of $23.34 and a one year high of $38.75.
AAR Corp. (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $492.30 million during the quarter, compared to analyst estimates of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Equities analysts anticipate that AAR Corp. will post $1.78 EPS for the current fiscal year.
AAR Corp. declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 20.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Anthony Anderson sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total transaction of $123,235.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $744,400.00. Following the transaction, the director now directly owns 20,073 shares in the company, valued at $747,117.06. The disclosure for this sale can be found here. Insiders have sold a total of 95,340 shares of company stock worth $3,524,350 over the last ninety days. 8.23% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of AAR Corp. by 29,054.7% in the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock valued at $156,630,000 after buying an additional 4,641,493 shares in the last quarter. Beach Point Capital Management LP acquired a new position in shares of AAR Corp. during the second quarter valued at about $15,758,000. Norges Bank acquired a new position in shares of AAR Corp. during the fourth quarter valued at about $6,654,000. Vanguard Group Inc. raised its position in shares of AAR Corp. by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after buying an additional 157,388 shares in the last quarter. Finally, Columbus Circle Investors raised its position in shares of AAR Corp. by 58.6% in the first quarter. Columbus Circle Investors now owns 393,385 shares of the aerospace company’s stock valued at $13,230,000 after buying an additional 145,348 shares in the last quarter. 88.99% of the stock is currently owned by institutional investors.
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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