Matisse Capital Takes Position in AAR Corp. $AIR

Matisse Capital purchased a new stake in AAR Corp. (NYSE:AIR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,000 shares of the aerospace company’s stock, valued at approximately $448,000.

Other institutional investors have also recently bought and sold shares of the company. Osterweis Capital Management Inc. bought a new position in AAR in the 2nd quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in shares of AAR during the third quarter worth $30,000. Simplex Trading LLC acquired a new position in shares of AAR during the second quarter valued at $103,000. Vontobel Holding Ltd. bought a new position in AAR in the second quarter valued at about $202,000. Finally, FourThought Financial Partners LLC acquired a new stake in AAR in the second quarter worth about $202,000. Institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

AIR opened at $105.12 on Tuesday. The business’s 50-day simple moving average is $85.74 and its 200 day simple moving average is $81.08. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $107.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. The firm has a market capitalization of $4.16 billion, a PE ratio of 41.22 and a beta of 1.24.

AAR (NYSE:AIR) last posted its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. AAR had a return on equity of 12.40% and a net margin of 3.17%.The firm had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jessica A. Garascia sold 4,787 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the sale, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. This represents a 13.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the completion of the sale, the senior vice president owned 65,769 shares of the company’s stock, valued at $6,382,881.45. This trade represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 146,696 shares of company stock valued at $13,477,247. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AIR shares. Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Jefferies Financial Group set a $112.00 price target on AAR and gave the company a “buy” rating in a research note on Thursday. KeyCorp lifted their price objective on AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, Truist Financial set a $107.00 price objective on AAR in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $108.25.

AAR 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.