Hennessy Advisors Inc. acquired a new stake in AAR Corp. (NYSE:AIR – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 83,300 shares of the aerospace company’s stock, valued at approximately $11,906,000.
Other institutional investors also recently bought and sold shares of the company. Sheets Smith Wealth Management increased its stake in AAR by 2.0% during the second quarter. Sheets Smith Wealth Management now owns 7,669 shares of the aerospace company’s stock worth $1,096,000 after purchasing an additional 148 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of AAR by 73.9% in the second quarter. Toth Financial Advisory Corp now owns 7,983 shares of the aerospace company’s stock valued at $1,141,000 after purchasing an additional 3,393 shares in the last quarter. Empowered Funds LLC purchased a new stake in AAR during the 2nd quarter worth approximately $280,000. Formula Growth Ltd. acquired a new stake in AAR during the 2nd quarter worth approximately $2,986,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in AAR during the 2nd quarter worth approximately $3,394,000. 90.74% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Truist Financial upped their target price on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.
AAR Stock Performance
Shares of AAR stock opened at $133.36 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. AAR Corp. has a 52 week low of $73.05 and a 52 week high of $154.00. The firm’s 50 day moving average is $138.84 and its two-hundred day moving average is $122.79. The firm has a market capitalization of $5.32 billion, a P/E ratio of 27.61 and a beta of 1.11.
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. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. Research analysts forecast that AAR Corp. will post 5.92 EPS for the current fiscal year.
AAR Company Profile
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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