Formula Growth Ltd. Purchases Shares of 20,890 AAR Corp. $AIR

Formula Growth Ltd. acquired a new stake in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,890 shares of the aerospace company’s stock, valued at approximately $2,986,000. AAR accounts for approximately 1.1% of Formula Growth Ltd.’s holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of AAR in the 2nd quarter worth $925,068,000. Wellington Management Group LLP grew its position in AAR by 144.3% during the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after acquiring an additional 878,188 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in AAR during the second quarter worth about $84,251,000. UBS Group AG increased its stake in AAR by 709.2% during the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after acquiring an additional 427,906 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AIR shares. KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial lifted their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Trading Down 2.0%

NYSE:AIR opened at $135.82 on Friday. The business’s 50-day moving average is $138.88 and its two-hundred day moving average is $122.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. AAR Corp. has a 12 month low of $73.05 and a 12 month high of $154.00. The firm has a market capitalization of $5.42 billion, a PE ratio of 28.12 and a beta of 1.11.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The company’s revenue was up 23.0% compared to the same quarter last year. Research analysts predict that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

AAR 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.