Oliver Luxxe Assets LLC Has $3.48 Million Position in AAR Corp. $AIR

Oliver Luxxe Assets LLC lessened its stake in AAR Corp. (NYSE:AIR) by 38.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,349 shares of the aerospace company’s stock after selling 15,007 shares during the period. Oliver Luxxe Assets LLC owned 0.06% of AAR worth $3,480,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AIR. Whittier Trust Co. of Nevada Inc. bought a new position in AAR in the 1st quarter valued at $25,000. McMillan Office Inc. bought a new stake in shares of AAR during the fourth quarter worth $25,000. Osterweis Capital Management Inc. bought a new stake in shares of AAR during the second quarter worth $26,000. Morse Asset Management Inc acquired a new position in shares of AAR during the third quarter valued at $27,000. Finally, NBC Securities Inc. acquired a new position in shares of AAR during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AIR shares. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Jefferies Financial Group upped their target price on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. KeyCorp reiterated a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Finally, Truist Financial boosted their price target on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

AAR Price Performance

NYSE AIR opened at $142.90 on Friday. AAR Corp. has a 52-week low of $71.67 and a 52-week high of $154.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. The business has a 50 day simple moving average of $133.36 and a 200 day simple moving average of $119.21. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 29.59 and a beta of 1.11.

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

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.