Q1 2019 EPS Estimates for AAR Corp. Increased by Analyst (AIR)
AAR Corp. (NYSE:AIR) – Stock analysts at SunTrust Banks boosted their Q1 2019 EPS estimates for shares of AAR Corp. in a note issued to investors on Tuesday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings per share of $0.52 for the quarter, up from their prior estimate of $0.51. SunTrust Banks also issued estimates for AAR Corp.’s Q2 2019 earnings at $0.60 EPS.
AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $439.20 million during the quarter, compared to analyst estimates of $410.52 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.71%. AAR Corp.’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. WARNING: “Q1 2019 EPS Estimates for AAR Corp. Increased by Analyst (AIR)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/21/q1-2019-eps-estimates-for-aar-corp-increased-by-analyst-air.html.
A number of other research firms also recently issued reports on AIR. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. BidaskClub downgraded AAR Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Canaccord Genuity began coverage on AAR Corp. in a report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 price objective for the company. Zacks Investment Research downgraded AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Seaport Global Securities began coverage on AAR Corp. in a report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $44.71.
AAR Corp. (NYSE AIR) traded down 2.03% during mid-day trading on Thursday, hitting $38.09. 138,536 shares of the stock traded hands. AAR Corp. has a 1-year low of $27.59 and a 1-year high of $38.75. The firm has a market capitalization of $1.29 billion, a P/E ratio of 23.31 and a beta of 1.39. The company has a 50-day moving average of $35.81 and a 200 day moving average of $35.09.
Large investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of AAR Corp. by 10.1% during the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 309 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of AAR Corp. by 15.9% during the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after acquiring an additional 496 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of AAR Corp. during the first quarter valued at $127,000. Cubist Systematic Strategies LLC bought a new position in shares of AAR Corp. during the second quarter valued at $213,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of AAR Corp. by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock valued at $219,000 after acquiring an additional 2,787 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
In other news, Director Ronald B. Woodard sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total transaction of $744,400.00. Following the completion of the transaction, the director now directly owns 20,073 shares in the company, valued at $747,117.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 114,193 shares of the company’s stock, valued at $4,171,470.29. The disclosure for this sale can be found here. Insiders have sold 91,840 shares of company stock valued at $3,401,115 over the last 90 days. Corporate insiders own 9.33% of the company’s stock.
AAR Corp. declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the aerospace company to repurchase up to 20.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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