AAR (NYSE:AIR) Hits New 1-Year High – Here’s What Happened

AAR Corp. (NYSE:AIR)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $137.08 and last traded at $136.9770, with a volume of 78760 shares trading hands. The stock had previously closed at $132.26.

Wall Street Analysts Forecast Growth

AIR has been the topic of several recent research reports. KeyCorp boosted their price objective on shares of AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Truist Financial raised shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group lifted their price target on shares of AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada increased their price objective on shares of AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.20.

AAR Stock Up 2.2%

The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $5.37 billion, a P/E ratio of 30.01 and a beta of 1.13. The stock’s 50 day simple moving average is $116.63 and its 200 day simple moving average is $107.66.

AAR (NYSE:AIR) last released its earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. AAR had a net margin of 5.46% and a return on equity of 12.39%. The company had revenue of $845.10 million during the quarter, compared to the consensus estimate of $812.58 million. During the same quarter in the previous year, the firm earned $0.99 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts predict that AAR Corp. will post 4.97 EPS for the current fiscal year.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 26,175 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $107.60, for a total transaction of $2,816,430.00. Following the sale, the chief executive officer owned 235,064 shares in the company, valued at $25,292,886.40. This represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On AAR

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after acquiring an additional 904 shares during the last quarter. Millennium Management LLC raised its position in shares of AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after purchasing an additional 35,608 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after purchasing an additional 4,288 shares during the last quarter. State Street Corp lifted its holdings in shares of AAR by 10.9% in the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after purchasing an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. boosted its position in AAR by 4.2% during the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after purchasing an additional 10,725 shares during the period. 90.74% of the stock is currently owned by institutional investors.

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.