AAR (NYSE:AIR) Issues Quarterly Earnings Results

AAR (NYSE:AIR) released its quarterly earnings data on Tuesday. The aerospace company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04, FiscalAI reports. The company had revenue of $845.10 million for the quarter, compared to the consensus estimate of $812.58 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.

AAR Stock Up 4.8%

Shares of AIR stock traded up $4.97 during trading hours on Tuesday, reaching $108.46. The company had a trading volume of 1,008,511 shares, compared to its average volume of 532,070. The company has a market capitalization of $4.29 billion, a P/E ratio of 42.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. AAR has a twelve month low of $46.51 and a twelve month high of $121.64. The stock’s fifty day simple moving average is $109.60 and its 200 day simple moving average is $92.11.

Wall Street Analyst Weigh In

AIR has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on AAR to $135.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. KeyCorp raised their price target on shares of AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. Truist Financial reiterated a “buy” rating and set a $128.00 price objective (up from $107.00) on shares of AAR in a research note on Friday, March 6th. Finally, Zacks Research downgraded shares of AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.60.

Insider Buying and Selling

In other news, CAO Jessica A. Garascia sold 4,787 shares of AAR stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total transaction of $455,961.75. Following the sale, the chief accounting officer owned 29,557 shares in the company, valued at $2,815,304.25. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the transaction, the chief financial officer directly owned 32,848 shares in the company, valued at approximately $3,565,978.88. The trade was a 24.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 128,984 shares of company stock valued at $12,517,090. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On AAR

A number of large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new stake in AAR in the fourth quarter valued at about $244,000. Invesco Ltd. raised its stake in AAR by 7.7% during the fourth quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company’s stock valued at $92,956,000 after buying an additional 80,265 shares in the last quarter. Skyview Financial Group LLC bought a new position in AAR during the 4th quarter worth approximately $2,845,000. State of Tennessee Department of Treasury grew its position in shares of AAR by 23.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 15,902 shares of the aerospace company’s stock worth $1,317,000 after acquiring an additional 2,972 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of AAR by 22.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 672,877 shares of the aerospace company’s stock worth $55,707,000 after acquiring an additional 122,672 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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.