AAR Corp. (NYSE:AIR)‘s stock had its “hold” rating restated by research analysts at Canaccord Genuity in a note issued to investors on Friday. They currently have a $40.00 target price on the aerospace company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 3.65% from the stock’s current price.
A number of other equities analysts have also recently issued reports on AIR. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. Seaport Global Securities assumed coverage on AAR Corp. in a report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price for the company. Finally, Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.67.
AAR Corp. (AIR) opened at 38.59 on Friday. The stock’s 50 day moving average price is $36.89 and its 200-day moving average price is $35.62. AAR Corp. has a one year low of $30.37 and a one year high of $39.71. The stock has a market cap of $1.31 billion, a P/E ratio of 23.19 and a beta of 1.37.
AAR Corp. (NYSE:AIR) last issued its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The business had revenue of $439.20 million for the quarter, compared to the consensus estimate of $410.52 million. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. On average, analysts predict that AAR Corp. will post $1.77 earnings per share for the current year.
AAR Corp. declared that its board has initiated a share buyback program on Tuesday, July 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the aerospace company to reacquire up to 20.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total transaction of $1,046,219.20. Following the completion of the transaction, the vice president now owns 114,193 shares in the company, valued at approximately $4,171,470.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $37.28, for a total value of $1,610,496.00. Following the transaction, the insider now owns 317,665 shares of the company’s stock, valued at approximately $11,842,551.20. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in AIR. Bank of New York Mellon Corp grew its holdings in shares of AAR Corp. by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 506,440 shares of the aerospace company’s stock valued at $17,031,000 after acquiring an additional 14,929 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of AAR Corp. by 12.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 715 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of AAR Corp. in the 1st quarter valued at about $452,000. Ameriprise Financial Inc. grew its holdings in shares of AAR Corp. by 4.6% in the 1st quarter. Ameriprise Financial Inc. now owns 169,163 shares of the aerospace company’s stock valued at $5,689,000 after acquiring an additional 7,398 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of AAR Corp. by 7.5% in the 1st quarter. Mason Street Advisors LLC now owns 7,465 shares of the aerospace company’s stock valued at $251,000 after acquiring an additional 520 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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