Amalgamated Bank Trims Stake in AAR Corp. (NYSE:AIR)

Amalgamated Bank trimmed its holdings in shares of AAR Corp. (NYSE:AIR) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,142 shares of the aerospace company’s stock after selling 419 shares during the quarter. Amalgamated Bank’s holdings in AAR were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of AAR by 283.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 402 shares in the last quarter. Quest Partners LLC purchased a new position in shares of AAR in the 2nd quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of AAR in the 2nd quarter worth about $49,000. Geneos Wealth Management Inc. purchased a new position in shares of AAR in the 1st quarter worth about $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of AAR by 348.1% in 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 in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AIR shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of AAR in a report on Tuesday, September 24th. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Benchmark restated a “buy” rating and set a $83.00 target price on shares of AAR in a report on Tuesday, September 24th. Finally, Stifel Nicolaus dropped their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and an average target price of $83.50.

AAR Trading Up 1.4 %

AIR opened at $64.68 on Friday. The business has a 50 day simple moving average of $64.47 and a two-hundred day simple moving average of $66.62. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 38.05 and a beta of 1.55. 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 Corp. has a one year low of $54.71 and a one year high of $76.34.

AAR (NYSE:AIR) 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. The business had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. AAR had a return on equity of 10.31% and a net margin of 2.67%. AAR’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. Analysts predict that AAR Corp. will post 3.72 EPS for the current year.

AAR Profile

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.