AAR Corp. (NYSE:AIR) Receives Buy Rating from Noble Financial
AAR Corp. (NYSE:AIR)‘s stock had its “buy” rating reiterated by research analysts at Noble Financial in a note issued to investors on Friday.
A number of other equities research analysts have also recently commented on AIR. Zacks Investment Research upgraded shares of AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, May 23rd. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.80.
AAR Corp. (AIR) traded up 0.23% during midday trading on Friday, reaching $35.37. 152,659 shares of the company traded hands. AAR Corp. has a 12-month low of $23.34 and a 12-month high of $38.75. The company has a 50 day moving average of $36.07 and a 200-day moving average of $34.65. The stock has a market capitalization of $1.22 billion, a P/E ratio of 24.39 and a beta of 1.38.
AAR Corp. (NYSE:AIR) last posted its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $486.93 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. Equities analysts anticipate that AAR Corp. will post $1.78 EPS for the current fiscal year.
AAR Corp. declared that its board has authorized a share repurchase plan on Tuesday, July 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 20.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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In other AAR Corp. news, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $36.53, for a total value of $1,046,219.20. Following the transaction, the vice president now directly owns 114,193 shares of the company’s stock, valued at $4,171,470.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the transaction, the insider now directly owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders sold 95,340 shares of company stock worth $3,524,350 over the last ninety days. Insiders own 8.23% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its position in AAR Corp. by 27.4% in the first quarter. Neuberger Berman Group LLC now owns 23,129 shares of the aerospace company’s stock worth $778,000 after buying an additional 4,971 shares during the period. Sei Investments Co. raised its position in AAR Corp. by 1.7% in the first quarter. Sei Investments Co. now owns 93,995 shares of the aerospace company’s stock worth $3,161,000 after buying an additional 1,608 shares during the period. Victory Capital Management Inc. raised its position in AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock worth $122,000 after buying an additional 496 shares during the period. BlackRock Inc. raised its position in AAR Corp. by 29,054.7% in the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock worth $156,630,000 after buying an additional 4,641,493 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. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
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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