Public Employees Retirement System of Ohio Takes Position in AAR Corp. $AIR

Public Employees Retirement System of Ohio purchased a new stake in AAR Corp. (NYSE:AIR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,743 shares of the aerospace company’s stock, valued at approximately $3,394,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in AAR in the 2nd quarter worth about $499,000. Corient Private Wealth LP bought a new stake in shares of AAR in the second quarter valued at approximately $5,408,000. Bank of America Corp DE bought a new stake in shares of AAR in the second quarter valued at approximately $33,649,000. Jupiter Topco LLC acquired a new stake in AAR during the second quarter worth approximately $24,861,000. Finally, EFG International AG acquired a new position in AAR in the 2nd quarter valued at $4,111,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

AAR Stock Performance

NYSE:AIR opened at $126.69 on Friday. The stock’s 50-day simple moving average is $137.82 and its 200 day simple moving average is $123.23. The firm has a market capitalization of $5.05 billion, a PE ratio of 26.23 and a beta of 1.11. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a twelve month low of $73.05 and a twelve month high of $154.00.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.38 by $0.15. The firm had revenue of $928.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, analysts anticipate that AAR Corp. will post 5.92 EPS for the current fiscal year.

About AAR

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.