AAR (NYSE:AIR) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

AAR (NYSE:AIR - Get Free Report) announced its earnings results on Wednesday. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16, Zacks reports. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.66%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share.

AAR Stock Performance

NYSE:AIR traded down $1.42 during midday trading on Friday, reaching $83.68. The stock had a trading volume of 914,795 shares, compared to its average volume of 288,869. The firm has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $64.10. AAR has a 12-month low of $46.51 and a 12-month high of $86.43. The company has a quick ratio of 1.39, a current ratio of 2.72 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3.02 billion, a P/E ratio of 253.58 and a beta of 1.44.

Institutional Investors Weigh In On AAR

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in shares of AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock worth $7,557,000 after purchasing an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of AAR by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company's stock worth $5,453,000 after buying an additional 4,288 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company's stock worth $1,163,000 after buying an additional 904 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AIR shares. Royal Bank Of Canada raised their target price on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial raised their target price on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen upgraded shares of AAR from a "hold" rating to a "buy" rating in a research report on Friday. Finally, KeyCorp increased their price target on AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, AAR presently has a consensus rating of "Buy" and an average price target of $84.00.

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.