AAR Corp. (NYSE:AIR) Short Interest Update

AAR Corp. (NYSE:AIR - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 894,600 shares, an increase of 38.4% from the March 15th total of 646,200 shares. Based on an average daily volume of 293,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.5% of the shares of the company are short sold.

Institutional Investors Weigh In On AAR

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in AAR by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock worth $2,663,000 after acquiring an additional 3,612 shares in the last quarter. SG Americas Securities LLC acquired a new position in AAR during the fourth quarter worth $1,539,000. Charles Schwab Investment Management Inc. grew its holdings in shares of AAR by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock worth $32,976,000 after buying an additional 19,863 shares in the last quarter. Shelton Wealth Management LLC purchased a new stake in AAR in the 4th quarter valued at $1,068,000. Finally, Barclays PLC raised its position in shares of AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock valued at $4,328,000 after buying an additional 48,298 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

AAR Stock Up 1.6 %

Shares of AIR traded up $0.82 during trading hours on Thursday, reaching $52.58. The stock had a trading volume of 244,743 shares, compared to its average volume of 275,550. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 187.79 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. AAR has a 12 month low of $46.51 and a 12 month high of $76.34. The firm has a 50-day simple moving average of $60.06 and a 200 day simple moving average of $63.48.

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

About AAR

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.