AAR Corp. (NYSE:AIR) Short Interest Update

AAR Corp. (NYSE:AIR - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 757,300 shares, a drop of 15.3% from the March 31st total of 894,600 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 275,800 shares, the short-interest ratio is presently 2.7 days.

AAR Trading Up 1.6 %

Shares of AAR stock traded up $0.95 during mid-day trading on Thursday, hitting $60.00. The stock had a trading volume of 96,157 shares, compared to its average volume of 274,165. The firm has a market cap of $2.17 billion, a P/E ratio of 214.29 and a beta of 1.40. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $58.59 and a two-hundred day moving average of $63.10. AAR has a 12-month low of $46.51 and a 12-month high of $76.34.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to the consensus estimate of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Sell-side analysts forecast that AAR will post 3.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AIR shares. Truist Financial reduced their price target on shares of AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, March 28th. StockNews.com upgraded shares of AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Finally, KeyCorp cut their price objective on shares of AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $80.20.

Institutional Investors Weigh In On AAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in AAR by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock valued at $2,663,000 after purchasing an additional 3,612 shares during the period. SG Americas Securities LLC purchased a new position in AAR during the 4th quarter valued at about $1,539,000. Charles Schwab Investment Management Inc. grew its position in AAR by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock valued at $32,976,000 after acquiring an additional 19,863 shares in the last quarter. Shelton Wealth Management LLC purchased a new position in AAR in the 4th quarter valued at approximately $1,068,000. Finally, Vanguard Group Inc. raised its position in AAR by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock valued at $235,369,000 after purchasing an additional 58,694 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

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.