AAR (NYSE:AIR) Stock Price Down 2%

AAR Corp. (NYSE:AIR) fell 2% during mid-day trading on Tuesday . The company traded as low as $67.69 and last traded at $67.69. 117,986 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 305,233 shares. The stock had previously closed at $69.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AIR shares. Stifel Nicolaus dropped their price target on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of AAR in a research note on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of AAR in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have given 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 price target of $83.50.

AAR Price Performance

The business has a 50-day moving average of $65.05 and a two-hundred day moving average of $66.62. The firm has a market cap of $2.38 billion, a P/E ratio of 39.85 and a beta of 1.55. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83.

AAR (NYSE:AIR) last issued its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (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 net margin of 2.00% and a return on equity of 10.16%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. On average, sell-side analysts anticipate that AAR Corp. will post 3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AAR

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in shares of AAR in the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in AAR by 283.1% during the first 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. Innealta Capital LLC acquired a new position in AAR in the second quarter valued at $49,000. Geneos Wealth Management Inc. bought a new stake in AAR during the first quarter valued at $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in 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 acquiring an additional 1,100 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Company 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.