AAR (NYSE:AIR) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

AAR (NYSE:AIRGet Rating) issued its quarterly earnings results on Thursday. The aerospace company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04, Briefing.com reports. The firm had revenue of $446.30 million for the quarter, compared to the consensus estimate of $455.10 million. AAR had a return on equity of 8.53% and a net margin of 4.32%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share.

AAR Price Performance

NYSE:AIR opened at $38.02 on Friday. AAR has a 12 month low of $31.73 and a 12 month high of $52.83. The stock has a 50 day moving average of $43.65 and a two-hundred day moving average of $45.28. The company has a current ratio of 2.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.35 billion, a P/E ratio of 17.36 and a beta of 1.51.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AIR. StockNews.com upgraded AAR from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. TheStreet lowered AAR from a “b-” rating to a “c+” rating in a research note on Friday, July 22nd. Finally, Truist Financial reduced their price objective on AAR from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Insiders Place Their Bets

In other AAR news, Director David P. Storch sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $46.81, for a total transaction of $1,170,250.00. Following the completion of the sale, the director now directly owns 315,090 shares in the company, valued at approximately $14,749,362.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIR. BlackRock Inc. boosted its holdings in shares of AAR by 10.7% during the 1st quarter. BlackRock Inc. now owns 6,239,962 shares of the aerospace company’s stock worth $302,202,000 after purchasing an additional 601,462 shares during the last quarter. State Street Corp boosted its holdings in shares of AAR by 32.1% during the 1st quarter. State Street Corp now owns 2,209,912 shares of the aerospace company’s stock worth $107,026,000 after purchasing an additional 537,011 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of AAR by 6,947.0% during the 2nd quarter. Millennium Management LLC now owns 332,196 shares of the aerospace company’s stock worth $13,899,000 after purchasing an additional 327,482 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of AAR by 880.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 266,093 shares of the aerospace company’s stock worth $11,133,000 after purchasing an additional 238,951 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of AAR by 35.1% during the 1st quarter. Invesco Ltd. now owns 536,037 shares of the aerospace company’s stock worth $25,960,000 after purchasing an additional 139,219 shares during the last quarter. 98.13% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the U.S.

See Also

Earnings History for AAR (NYSE:AIR)

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