Public Sector Pension Investment Board Has $5.30 Million Holdings in AAR Corp. (NYSE:AIR)

Public Sector Pension Investment Board increased its holdings in shares of AAR Corp. (NYSE:AIR) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,836 shares of the aerospace company’s stock after purchasing an additional 4,809 shares during the quarter. Public Sector Pension Investment Board’s holdings in AAR were worth $5,295,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AIR. EverSource Wealth Advisors LLC boosted its stake in shares of AAR by 283.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after buying an additional 402 shares during the last quarter. Quest Partners LLC bought a new stake in AAR during the second quarter worth about $33,000. Innealta Capital LLC acquired a new position in AAR during the second quarter valued at approximately $49,000. Geneos Wealth Management Inc. bought a new position in AAR in the first quarter valued at approximately $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of AAR by 348.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AIR shares. Stifel Nicolaus cut their price objective on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of AAR in a research note on Tuesday. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Finally, Benchmark reiterated a “buy” rating and issued a $83.00 target price on shares of AAR in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

AAR Trading Down 3.5 %

AIR stock opened at $63.67 on Thursday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 37.45 and a beta of 1.55. The company has a fifty day moving average price of $64.65 and a two-hundred day moving average price of $66.61. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41.

AAR (NYSE:AIR) last released its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. AAR had a net margin of 2.67% and a return on equity of 10.31%. The firm had revenue of $661.70 million for the quarter, compared to analysts’ expectations of $645.60 million. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities analysts anticipate that AAR Corp. will post 3.72 EPS for the current year.

About AAR

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.