AAR Corp. $AIR Shares Bought by Algert Global LLC

Key Points

• Algert Global increased its AAR stake by 28.1% in the second quarter, purchasing 15,407 additional shares for a total of 70,316 shares valued at approximately $10.05 million. Institutional investors collectively own 90.74% of AAR.
• Analyst sentiment remains positive overall, with AAR receiving a consensus “Moderate Buy” rating and an average price target of $135.60. Jefferies and Truist recently raised their targets to $155 and $145, respectively.
• AAR exceeded quarterly expectations, reporting EPS of $1.53 versus the $1.38 consensus and revenue of $928 million, up 23% year over year. Shares opened at $135.41, compared with a 12-month range of $73.05 to $154.00.

Algert Global LLC lifted its stake in shares of AAR Corp. (NYSE:AIR - Free Report) by 28.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,316 shares of the aerospace company's stock after purchasing an additional 15,407 shares during the period. Algert Global LLC owned about 0.18% of AAR worth $10,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Cibc World Market Inc. purchased a new stake in shares of AAR during the second quarter worth approximately $884,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of AAR during the second quarter worth $84,251,000. Globeflex Capital L P acquired a new stake in shares of AAR in the second quarter valued at about $2,506,000. Elevation Point Wealth Partners LLC purchased a new position in shares of AAR in the second quarter worth about $501,000. Finally, Quantbot Technologies LP purchased a new position in shares of AAR in the second quarter worth about $1,631,000. Institutional investors and hedge funds own 90.74% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on AIR. Wall Street Zen downgraded shares of AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Jefferies Financial Group upped their price target on AAR from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Truist Financial increased their price target on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a report on Monday, July 27th. Finally, Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Stock Performance

Shares of AAR stock opened at $135.41 on Wednesday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 28.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The business has a 50-day moving average of $138.74 and a 200 day moving average of $122.33. AAR Corp. has a 12 month low of $73.05 and a 12 month high of $154.00.

AAR (NYSE:AIR - Get Free Report) last issued 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. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company had revenue of $928.00 million during the quarter, compared to analysts' expectations of $893.03 million. During the same quarter last year, the company posted $1.16 EPS. The firm's revenue was up 23.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AAR Corp. will post 5.92 earnings per share for the current year.

AAR Profile

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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