Sheets Smith Wealth Management Raises Stake in AAR Corp. (NYSE:AIR)

Sheets Smith Wealth Management boosted its stake in shares of AAR Corp. (NYSE:AIR) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,281 shares of the aerospace company’s stock after buying an additional 266 shares during the quarter. Sheets Smith Wealth Management’s holdings in AAR were worth $408,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AIR. Harbor Capital Advisors Inc. bought a new position in shares of AAR during the 1st quarter valued at approximately $526,000. Charles Schwab Investment Management Inc. lifted its stake in AAR by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company’s stock valued at $32,976,000 after purchasing an additional 19,863 shares during the last quarter. Vanguard Group Inc. grew its holdings in AAR by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock valued at $235,369,000 after purchasing an additional 58,694 shares during the period. Raymond James Financial Inc. bought a new position in AAR during the fourth quarter valued at $6,849,000. Finally, GAMMA Investing LLC increased its position in AAR by 10,454.2% in the first quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company’s stock worth $3,546,000 after buying an additional 62,725 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

NYSE:AIR opened at $67.78 on Wednesday. The business’s fifty day moving average is $60.92 and its 200 day moving average is $62.79. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -188.28 and a beta of 1.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 2.82. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $76.34.

AAR (NYSE:AIR) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. AAR had a positive return on equity of 10.86% and a negative net margin of 0.46%. The business had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AIR. Truist Financial dropped their price target on AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Wall Street Zen raised shares of AAR from a “sell” rating to a “hold” rating in a report on Saturday, April 19th. Finally, KeyCorp cut their target price on shares of AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.20.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.