Peregrine Capital Management LLC Acquires 4,798 Shares of AAR Corp. (NYSE:AIR)

Peregrine Capital Management LLC raised its holdings in shares of AAR Corp. (NYSE:AIR - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,298 shares of the aerospace company's stock after purchasing an additional 4,798 shares during the period. Peregrine Capital Management LLC owned 0.41% of AAR worth $8,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of AAR by 293.3% during the fourth quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company's stock valued at $10,491,000 after acquiring an additional 127,668 shares in the last quarter. Invesco Ltd. raised its holdings in AAR by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company's stock worth $65,607,000 after purchasing an additional 127,148 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in AAR by 8.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company's stock worth $88,314,000 after purchasing an additional 115,476 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AAR in the 4th quarter worth about $6,849,000. Finally, Norges Bank bought a new stake in shares of AAR during the 4th quarter valued at about $6,321,000. Hedge funds and other institutional investors own 90.74% of the company's stock.

AAR Stock Up 2.4%

Shares of NYSE:AIR traded up $1.64 on Wednesday, hitting $71.11. 274,364 shares of the company traded hands, compared to its average volume of 274,675. The stock has a 50 day simple moving average of $62.95 and a 200-day simple moving average of $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 company has a market cap of $2.57 billion, a PE ratio of -197.52 and a beta of 1.44. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $76.34.

Wall Street Analysts Forecast Growth

AIR has been the subject of several research analyst reports. KeyCorp lowered their price objective on shares of AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Truist Financial lowered their target price 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 note on Saturday, April 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.20.

AAR Profile

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.