Edgestream Partners L.P. Invests $1.42 Million in AAR Corp. $AIR

Key Points

• Edgestream Partners purchased 12,945 shares of AAR Corp. during the first quarter, establishing a new stake valued at approximately $1.42 million. Institutional investors collectively own 90.74% of the company.
• Analysts remain broadly bullish: AAR has an average “Moderate Buy” rating and a consensus price target of $135.60, with Truist and Jefferies recently raising their targets to $145 and $155, respectively.
• AAR reported quarterly EPS of $1.53, beating expectations of $1.38, while revenue rose 23% year over year to $928 million. The stock opened at $143.22, near its 52-week high of $146.75.

Edgestream Partners L.P. purchased a new stake in shares of AAR Corp. (NYSE:AIR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,945 shares of the aerospace company's stock, valued at approximately $1,417,000.

A number of other hedge funds have also recently modified their holdings of AIR. Vanguard Group Inc. raised its stake in AAR by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock worth $336,229,000 after purchasing an additional 281,871 shares during the period. First Eagle Investment Management LLC grew its stake in shares of AAR by 22.5% in the 4th quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company's stock valued at $5,101,000 after buying an additional 11,300 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of AAR in the 4th quarter valued at approximately $1,230,000. Wealth Enhancement Trust Services Inc. acquired a new stake in shares of AAR during the 4th quarter worth approximately $1,416,000. Finally, First Trust Advisors LP increased its holdings in shares of AAR by 20.4% during the 1st quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company's stock worth $9,933,000 after buying an additional 15,345 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Truist Financial lifted their target price on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Zacks Research raised AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Jefferies Financial Group increased their price target on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded AAR from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, AAR currently has an average rating of "Moderate Buy" and an average price target of $135.60.

AAR Trading Up 2.3%

AIR opened at $143.22 on Tuesday. AAR Corp. has a 52 week low of $71.43 and a 52 week high of $146.75. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $130.69 and a 200-day simple moving average of $118.12. The firm has a market cap of $5.71 billion, a P/E ratio of 29.65 and a beta of 1.11.

AAR (NYSE:AIR - Get Free Report) last posted 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. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same quarter in the previous year, the business earned $1.16 EPS. The company's quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities analysts expect that AAR Corp. will post 5.92 earnings per share for the current year.

About AAR

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.