Tower Research Capital LLC TRC bought a new position in shares of AAR Corp. (NYSE:AIR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,249 shares of the aerospace company’s stock, valued at approximately $51,000.
Several other hedge funds have also modified their holdings of the company. FMR LLC lifted its position in AAR by 13,915.1% during the first quarter. FMR LLC now owns 59,424 shares of the aerospace company’s stock worth $1,932,000 after buying an additional 59,000 shares during the period. First Trust Advisors LP boosted its position in shares of AAR by 122.8% in the first quarter. First Trust Advisors LP now owns 20,719 shares of the aerospace company’s stock worth $674,000 after acquiring an additional 11,421 shares during the last quarter. Arizona State Retirement System grew its holdings in AAR by 0.5% in the second quarter. Arizona State Retirement System now owns 50,589 shares of the aerospace company’s stock valued at $1,861,000 after purchasing an additional 240 shares during the period. Systematic Financial Management LP acquired a new position in AAR during the second quarter worth approximately $1,039,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of AAR during the 2nd quarter worth $414,000. 92.22% of the stock is owned by institutional investors and hedge funds.
In related news, CAO Eric Pachapa sold 1,000 shares of AAR stock in a transaction on Monday, September 30th. The stock was sold at an average price of $42.04, for a total value of $42,040.00. Following the transaction, the chief accounting officer now directly owns 10,889 shares in the company, valued at approximately $457,773.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.01% of the company’s stock.
AIR stock opened at $44.96 on Monday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 19.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 2.58. The stock’s fifty day moving average is $43.11 and its two-hundred day moving average is $40.20. AAR Corp. has a 1 year low of $29.84 and a 1 year high of $47.62.
AAR (NYSE:AIR) last issued its quarterly earnings results on Wednesday, September 25th. The aerospace company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $541.50 million for the quarter, compared to analysts’ expectations of $495.03 million. AAR had a positive return on equity of 9.94% and a negative net margin of 0.15%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. As a group, analysts predict that AAR Corp. will post 2.62 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective (up from $48.00) on shares of AAR in a research note on Thursday, September 26th. SunTrust Banks increased their target price on AAR from $40.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Stifel Nicolaus upped their target price on AAR from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Credit Suisse Group reiterated an “outperform” rating and issued a $54.00 price target (up from $46.00) on shares of AAR in a research note on Thursday, September 26th. Finally, ValuEngine downgraded AAR from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $50.20.
AAR Company Profile
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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