AAR Corp. (AIR) Given Consensus Recommendation of “Buy” by Analysts
AAR Corp. (NYSE:AIR) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $51.67.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, May 23rd. BidaskClub upgraded AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th.
Shares of AAR Corp. (NYSE:AIR) traded down 0.475% during mid-day trading on Tuesday, hitting $36.655. The stock had a trading volume of 48,104 shares. The firm has a market capitalization of $1.24 billion, a PE ratio of 22.433 and a beta of 1.38. The stock’s 50-day moving average is $35.76 and its 200-day moving average is $34.45. AAR Corp. has a 1-year low of $23.34 and a 1-year high of $38.75.
AAR Corp. (NYSE:AIR) last issued its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The firm had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that AAR Corp. will post $1.78 earnings per share for the current year.
AAR Corp. declared that its board has initiated a stock repurchase program on Tuesday, July 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 20.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Friday, July 21st were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, July 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.81%. AAR Corp.’s dividend payout ratio (DPR) is presently 18.18%.
In other AAR Corp. news, Director Anthony Anderson sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total value of $123,235.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Regan sold 28,640 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the completion of the sale, the vice president now owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,340 shares of company stock worth $3,524,350. 8.23% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in AAR Corp. by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 506,440 shares of the aerospace company’s stock worth $17,031,000 after buying an additional 14,929 shares during the last quarter. Advisors Asset Management Inc. raised its position in AAR Corp. by 132.0% in the first quarter. Advisors Asset Management Inc. now owns 17,747 shares of the aerospace company’s stock worth $597,000 after buying an additional 10,097 shares during the period. First Trust Advisors LP raised its position in AAR Corp. by 25.3% in the first quarter. First Trust Advisors LP now owns 62,936 shares of the aerospace company’s stock worth $2,117,000 after buying an additional 12,701 shares during the period. State Board of Administration of Florida Retirement System raised its position in AAR Corp. by 15.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,395 shares of the aerospace company’s stock worth $1,123,000 after buying an additional 4,592 shares during the period. Finally, Chicago Equity Partners LLC raised its position in AAR Corp. by 10.1% in the first quarter. Chicago Equity Partners LLC now owns 49,865 shares of the aerospace company’s stock worth $1,677,000 after buying an additional 4,555 shares during the period. Institutional investors own 88.99% of the company’s stock.
About AAR Corp.
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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