AAR (NYSE:AIR) Stock Price Down 4% - Here's Why

AAR Corp. (NYSE:AIR - Get Free Report) traded down 4% during mid-day trading on Friday . The company traded as low as $82.06 and last traded at $81.66. 141,417 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 286,122 shares. The stock had previously closed at $85.10.

Analyst Ratings Changes

Several research firms have recently commented on AIR. KeyCorp raised their price target on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday. Royal Bank Of Canada lifted their price objective on AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday. Wall Street Zen raised AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, Truist Financial lifted their price objective on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.00.

AAR Stock Down 2.6%

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39. The stock has a market cap of $2.99 billion, a PE ratio of 250.83 and a beta of 1.44. The business has a 50 day simple moving average of $67.01 and a 200 day simple moving average of $63.95.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. AAR had a return on equity of 11.71% and a net margin of 0.45%. The business had revenue of $754.50 million during the quarter, compared to analysts' expectations of $695.81 million. During the same period in the prior year, the firm posted $0.88 EPS. AAR's quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Hedge Funds Weigh In On AAR

Institutional investors have recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new stake in AAR during the fourth quarter worth approximately $30,000. Hughes Financial Services LLC acquired a new stake in AAR during the first quarter worth approximately $28,000. Virtus Fund Advisers LLC acquired a new stake in AAR during the fourth quarter worth approximately $36,000. Virtus Advisers LLC acquired a new stake in AAR during the first quarter worth approximately $47,000. Finally, Sterling Capital Management LLC grew its position in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after buying an additional 784 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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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