Castleark Management LLC Reduces Position in AAR Corp. $AIR

Key Points

• Castleark Management cut its AAR stake by 30.6% in the first quarter, selling 26,590 shares and retaining 60,264 shares worth approximately $6.6 million. Institutional investors collectively own 90.74% of the company.
• Analyst sentiment remains positive, with AAR carrying a consensus “Buy” rating and an average price target of $132.20; Jefferies recently raised its target to $155.
• AAR exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.38 consensus and $928 million in revenue, up 23% year over year.

Castleark Management LLC trimmed its stake in AAR Corp. (NYSE:AIR - Free Report) by 30.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,264 shares of the aerospace company's stock after selling 26,590 shares during the quarter. Castleark Management LLC owned approximately 0.15% of AAR worth $6,596,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in AAR during the 1st quarter worth about $25,000. McMillan Office Inc. purchased a new position in AAR in the 4th quarter valued at about $25,000. Osterweis Capital Management Inc. purchased a new position in AAR in the 2nd quarter valued at about $26,000. Morse Asset Management Inc acquired a new stake in shares of AAR during the 3rd quarter worth about $27,000. Finally, NBC Securities Inc. acquired a new stake in shares of 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

A number of research firms have recently weighed in on AIR. Jefferies Financial Group boosted their price objective on shares of AAR from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Wall Street Zen cut shares of AAR from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. KeyCorp reiterated a "sector weight" rating on shares of AAR in a report on Wednesday. Finally, Weiss Ratings raised AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, AAR currently has a consensus rating of "Buy" and a consensus target price of $132.20.

AAR Stock Performance

Shares of AIR stock opened at $128.86 on Monday. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 26.68 and a beta of 1.09. The company has a 50 day moving average price of $126.74 and a 200 day moving average price of $116.24. AAR Corp. has a one year low of $71.43 and a one year high of $146.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (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 net margin of 5.67% and a return on equity of 12.67%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. Sell-side analysts anticipate that AAR Corp. will post 5.91 EPS for the current year.

AAR Company 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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