AAR Corp. (NYSE:AIR – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $147.88 and last traded at $146.67, with a volume of 9639 shares traded. The stock had previously closed at $143.06.
Analyst Upgrades and Downgrades
AIR has been the subject of several analyst reports. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Truist Financial lifted their price target on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Jefferies Financial Group boosted their price target on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.
View Our Latest Research Report on AIR
AAR Price Performance
AAR (NYSE:AIR – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.15. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts expect that AAR Corp. will post 5.92 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after purchasing an additional 281,871 shares in the last quarter. State Street Corp increased its position in AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Wellington Management Group LLP raised its position in shares of AAR by 17.4% in the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock worth $144,498,000 after buying an additional 258,577 shares during the period. Franklin Resources Inc. raised its holdings in shares of AAR by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after purchasing an additional 311,258 shares during the period. Finally, Invesco Ltd. raised its holdings in AAR by 7.7% in the fourth quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company’s stock valued at $92,956,000 after buying an additional 80,265 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
About AAR
AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.
In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.
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