Virtus Advisers LLC Acquires Shares of 9,694 AAR Corp. $AIR

Key Points

• Virtus Advisers acquired 9,694 shares of AAR Corp. in the second quarter, valued at approximately $1.386 million. Institutional investors collectively own 90.74% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $135.60; Truist and Jefferies recently raised their targets to $145 and $155, respectively.
• AAR reported quarterly EPS of $1.53, exceeding estimates of $1.38, while revenue rose 23% year over year to $928 million. The stock opened at $132.80, down 4.6%.

Virtus Advisers LLC bought a new position in AAR Corp. (NYSE:AIR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,694 shares of the aerospace company's stock, valued at approximately $1,386,000.

Several other institutional investors have also made changes to their positions in AIR. BlackRock Inc. purchased a new stake in shares of AAR in the 2nd quarter valued at approximately $925,068,000. Vanguard Group Inc. grew its position in AAR by 7.5% during the 4th 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 in the last quarter. State Street Corp raised its stake in AAR by 17.1% during the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company's stock valued at $192,150,000 after purchasing an additional 339,595 shares during the period. Wellington Management Group LLP raised its stake in AAR by 17.4% during the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company's stock valued at $144,498,000 after purchasing an additional 258,577 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of AAR by 36.9% in the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company's stock valued at $107,752,000 after purchasing an additional 311,258 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AIR shares. KeyCorp reaffirmed a "sector weight" rating on shares of AAR in a research report on Wednesday, July 22nd. Truist Financial upped their price target on AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Weiss Ratings raised AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Jefferies Financial Group raised their price objective on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen cut AAR from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

AAR Trading Down 4.6%

AAR stock opened at $132.80 on Friday. AAR Corp. has a 12 month low of $71.73 and a 12 month high of $154.00. 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 stock has a market cap of $5.30 billion, a P/E ratio of 27.49 and a beta of 1.11. The company's fifty day simple moving average is $138.47 and its 200-day simple moving average is $121.77.

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, topping 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 business had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. During the same period last year, the company earned $1.16 earnings per share. AAR's quarterly 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 EPS for the current fiscal 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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