Formula Growth Ltd. bought a new stake in AAR Corp. (NYSE:AIR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,890 shares of the aerospace company's stock, valued at approximately $2,986,000. AAR makes up approximately 1.1% of Formula Growth Ltd.'s holdings, making the stock its 29th biggest position. Formula Growth Ltd. owned approximately 0.05% of AAR as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. McMillan Office Inc. acquired a new position in shares of AAR in the fourth quarter worth $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of AAR during the first quarter valued at $25,000. Osterweis Capital Management Inc. acquired a new stake in shares of AAR during the second quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in shares of AAR during the third quarter valued at $27,000. Finally, NBC Securities Inc. purchased a new stake in AAR during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 90.74% of the company's stock.
Wall Street Analysts Forecast Growth
AIR has been the subject of several analyst reports. Truist Financial boosted their target price on shares of AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their price target on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. KeyCorp reissued a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Zacks Research raised shares of AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.60.
Check Out Our Latest Analysis on AAR
AAR Stock Performance
NYSE AIR opened at $135.82 on Friday. The business's 50-day moving average price is $138.88 and its 200 day moving average price is $122.71. AAR Corp. has a twelve month low of $73.05 and a twelve month high of $154.00. The company has a market capitalization of $5.42 billion, a PE ratio of 28.12 and a beta of 1.11. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52.
AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.38 by $0.15. The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. On average, research analysts predict that AAR Corp. will post 5.92 earnings per share for the current year.
AAR Company Profile
(
Free Report)
AAR Corp. NYSE: AIR is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.
In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.
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