Summit Creek Advisors LLC Purchases Shares of 31,949 AAR Corp. $AIR

Key Points

• Summit Creek Advisors purchased 31,949 AAR shares worth approximately $4.6 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 90.74% of the company.
• AAR’s latest quarterly results exceeded expectations, with earnings of $1.53 per share and revenue of $928 million, up 23% year over year. Analysts expect full-year earnings of approximately $5.92 per share.
• AAR shares opened at $149.09 after recently trading down 3%; the stock carries a consensus “Moderate Buy” rating, with analysts’ average price target at $135.60.

Summit Creek Advisors LLC purchased a new stake in AAR Corp. (NYSE:AIR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,949 shares of the aerospace company's stock, valued at approximately $4,566,000. Summit Creek Advisors LLC owned approximately 0.08% of AAR at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lido Advisors LLC raised its position in AAR by 2.8% in the 4th quarter. Lido Advisors LLC now owns 3,618 shares of the aerospace company's stock valued at $318,000 after buying an additional 98 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of AAR by 12.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,162 shares of the aerospace company's stock worth $97,000 after acquiring an additional 126 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of AAR by 1.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,073 shares of the aerospace company's stock worth $884,000 after acquiring an additional 132 shares in the last quarter. CWM LLC raised its holdings in shares of AAR by 19.3% in the fourth quarter. CWM LLC now owns 950 shares of the aerospace company's stock valued at $79,000 after purchasing an additional 154 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of AAR by 10.7% in the first quarter. Assetmark Inc. now owns 1,606 shares of the aerospace company's stock valued at $176,000 after purchasing an additional 155 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Trading Down 3.0%

NYSE AIR opened at $149.09 on Wednesday. The company has a market cap of $5.95 billion, a PE ratio of 30.87 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 Corp. has a 12 month low of $71.67 and a 12 month high of $154.00. The stock has a 50 day moving average of $137.93 and a 200-day moving average of $121.35.

AAR (NYSE:AIR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same period in the previous year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts anticipate that AAR Corp. will post 5.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen cut shares of AAR from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. KeyCorp reiterated a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on shares of AAR from $150.00 to $155.00 and gave the stock 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 note on Friday, July 10th. Finally, Truist Financial raised their price objective on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a report on Monday, July 27th. One research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source