AAR Corp. (NYSE:AIR) Short Interest Update

by · The Markets Daily

AAR Corp. (NYSE:AIR – Get Free Report) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 705,800 shares, a decline of 8.0% from the September 30th total of 766,800 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average trading volume of 297,000 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

AIR has been the topic of several recent research reports. Benchmark reiterated a “buy” rating and set a $83.00 target price on shares of AAR in a report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price objective on shares of AAR in a research note on Tuesday, September 24th. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus reduced their price target on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.50.

Check Out Our Latest Analysis on AIR

Institutional Trading of AAR

Several large investors have recently bought and sold shares of AIR. Vanguard Group Inc. lifted its stake in shares of AAR by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock worth $234,726,000 after buying an additional 44,948 shares during the period. Earnest Partners LLC raised its stake in AAR by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock worth $115,513,000 after acquiring an additional 48,630 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in AAR during the 2nd quarter worth about $77,754,000. American Century Companies Inc. grew its stake in AAR by 1,956.5% during the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after purchasing an additional 865,705 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of AAR by 32.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock valued at $47,906,000 after purchasing an additional 181,518 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Up 1.5 %

Shares of AIR stock traded up $0.88 during trading hours on Friday, reaching $59.58. 15,945 shares of the company’s stock were exchanged, compared to its average volume of 306,164. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 32.63 and a beta of 1.55. AAR has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The stock’s 50 day moving average is $64.30 and its 200-day moving average is $66.79.

AAR (NYSE:AIR – Get Free Report) last released its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The company had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. Analysts predict that AAR will post 3.63 earnings per share for the current fiscal year.

AAR Company Profile

(Get Free Report)

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.

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