Dark Forest Capital Management LP Acquires New Stake in AAR Corp. (NYSE:AIR)

Dark Forest Capital Management LP bought a new position in AAR Corp. (NYSE:AIR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,377 shares of the aerospace company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AIR. Barclays PLC increased its position in shares of AAR by 269.4% in the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after purchasing an additional 48,298 shares during the last quarter. Franklin Resources Inc. lifted its stake in AAR by 13.4% during the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after purchasing an additional 114,460 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AAR by 18.5% in the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock worth $32,693,000 after purchasing an additional 77,974 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AAR by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock valued at $2,663,000 after purchasing an additional 3,612 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of AAR by 37.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,625 shares of the aerospace company’s stock valued at $835,000 after buying an additional 3,737 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Price Performance

AIR stock opened at $53.89 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average price is $59.39 and its two-hundred day moving average price is $63.31. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 192.47 and a beta of 1.32. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The business had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. AAR’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Saturday, April 19th. Truist Financial lowered their price target on shares of AAR from $81.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, KeyCorp reduced their price objective on AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.20.

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.