AAR Corp. (AIR) Issues Quarterly Earnings Results
AAR Corp. (NYSE:AIR) posted its earnings results on Tuesday. The aerospace company reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31, RTT News reports. The company had revenue of $439.20 million during the quarter, compared to the consensus estimate of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share.
AAR Corp. (AIR) traded up 3.17% during mid-day trading on Tuesday, hitting $37.71. 413,575 shares of the company traded hands. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 23.08 and a beta of 1.39. The company’s 50-day moving average is $35.80 and its 200-day moving average is $35.07. AAR Corp. has a one year low of $27.42 and a one year high of $38.75.
AAR Corp. announced that its board has initiated a stock buyback program on Tuesday, July 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the aerospace company to repurchase up to 20.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several research firms have commented on AIR. Zacks Investment Research raised shares of AAR Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Canaccord Genuity began coverage on shares of AAR Corp. in a research report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 target price for the company. Noble Financial reissued a “buy” rating on shares of AAR Corp. in a research report on Friday, August 11th. Seaport Global Securities began coverage on shares of AAR Corp. in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 target price for the company. Finally, BidaskClub downgraded shares of AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.71.
In related news, Director Ronald B. Woodard sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $37.22, for a total value of $744,400.00. Following the completion of the transaction, the director now directly owns 20,073 shares of the company’s stock, valued at $747,117.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 of the company’s stock, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders sold 91,840 shares of company stock worth $3,401,115 over the last quarter. 9.33% of the stock is owned by corporate insiders.
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AAR Corp. Company Profile
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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