AAR (NYSE:AIR) Stock Price Down 7% - What's Next?

AAR Corp. (NYSE:AIR - Get Free Report) shares dropped 7% during mid-day trading on Thursday . The stock traded as low as $70.95 and last traded at $66.13. Approximately 121,034 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 274,063 shares. The stock had previously closed at $71.08.

Wall Street Analyst Weigh In

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

AAR Stock Performance

The firm's 50-day moving average price is $62.95 and its two-hundred day moving average price is $62.96. The company has a quick ratio of 1.39, a current ratio of 2.82 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $2.58 billion, a PE ratio of -198.49 and a beta of 1.44.

Hedge Funds Weigh In On AAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIR. Arizona State Retirement System increased its stake in AAR by 2.1% in the 4th quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company's stock valued at $639,000 after buying an additional 219 shares during the period. US Bancorp DE grew its holdings in shares of AAR by 3.8% during the 4th quarter. US Bancorp DE now owns 6,118 shares of the aerospace company's stock valued at $375,000 after acquiring an additional 225 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of AAR by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock valued at $224,000 after acquiring an additional 226 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of AAR by 11.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock worth $143,000 after acquiring an additional 246 shares during the last quarter. Finally, Sheets Smith Wealth Management grew its stake in AAR by 3.8% in the first quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 266 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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