Algert Global LLC Cuts Stake in AAR Corp. (NYSE:AIR)

Algert Global LLC cut its stake in AAR Corp. (NYSE:AIR) by 12.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 30,230 shares of the aerospace company’s stock after selling 4,282 shares during the quarter. Algert Global LLC’s holdings in AAR were worth $2,198,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC raised its position in AAR by 31.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 11,931 shares of the aerospace company’s stock valued at $867,000 after purchasing an additional 2,841 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of AAR by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the aerospace company’s stock valued at $1,414,000 after acquiring an additional 958 shares in the last quarter. Millennium Management LLC grew its stake in shares of AAR by 37.4% during the second quarter. Millennium Management LLC now owns 310,144 shares of the aerospace company’s stock valued at $22,547,000 after acquiring an additional 84,459 shares in the last quarter. Earnest Partners LLC grew its stake in shares of AAR by 3.2% during the second quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock valued at $115,513,000 after acquiring an additional 48,630 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of AAR by 72.7% during the second quarter. Marshall Wace LLP now owns 32,471 shares of the aerospace company’s stock valued at $2,361,000 after acquiring an additional 13,666 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Stock Down 0.2 %

NYSE:AIR opened at $65.39 on Thursday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 38.46 and a beta of 1.55. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The stock has a 50-day simple moving average of $64.39 and a 200 day simple moving average of $66.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.41 and a current ratio of 2.98.

AAR (NYSE:AIR) last issued its 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 10.31% and a net margin of 2.67%. The company had revenue of $661.70 million during the quarter, compared to the consensus estimate of $645.60 million. During the same period in the previous year, the firm posted $0.78 earnings per share. AAR’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that AAR Corp. will post 3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AIR has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $83.00 target price on shares of AAR in a research note on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of AAR in a research note on Tuesday, September 24th. Stifel Nicolaus lowered their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

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.