AAR Corp. (NYSE:AIR) CAO Sells $279,877.48 in Stock

Key Points

• AAR Corp. CAO Jessica A. Garascia sold 3,631 shares of the company's stock, totaling $279,877.48, decreasing her ownership by 8.49%.
• The company reported a quarterly earnings per share of $1.16, surpassing analysts' estimates and marking a 15% increase in revenue compared to the previous year.
• Analysts have raised their price targets for AAR Corp. stock, with a consensus rating of "Buy" and an average target price of $83.75.

AAR Corp. (NYSE:AIR - Get Free Report) CAO Jessica A. Garascia sold 3,631 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total transaction of $279,877.48. Following the completion of the transaction, the chief accounting officer directly owned 39,117 shares in the company, valued at approximately $3,015,138.36. This represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

AAR Trading Down 1.4%

Shares of AAR stock traded down $1.07 on Friday, reaching $76.44. The company had a trading volume of 382,628 shares, compared to its average volume of 304,391. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.72. The firm has a market cap of $2.76 billion, a PE ratio of 231.63 and a beta of 1.44. The firm's 50 day moving average price is $68.89 and its two-hundred day moving average price is $64.58. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $86.43.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. AAR had a net margin of 0.45% and a return on equity of 11.66%. The firm had revenue of $754.50 million during the quarter, compared to analysts' expectations of $695.81 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The business's quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Institutional Trading of AAR

Several institutional investors have recently modified their holdings of AIR. Hughes Financial Services LLC purchased a new stake in shares of AAR during the 1st quarter worth approximately $28,000. Putney Financial Group LLC purchased a new stake in AAR in the 4th quarter valued at $30,000. Virtus Fund Advisers LLC purchased a new stake in AAR in the 4th quarter valued at $36,000. Virtus Advisers LLC purchased a new stake in AAR in the 1st quarter valued at $47,000. Finally, Sterling Capital Management LLC raised its position in AAR by 761.2% in the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock valued at $54,000 after purchasing an additional 784 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AIR. Truist Financial raised their price target on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. KeyCorp lifted their target price on shares of AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada lifted their target price on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $83.75.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.

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