AAR Corp. $AIR Stock: Canal Insurance CO Reduces Stake

Canal Insurance CO reduced its stake in shares of AAR Corp. (NYSE:AIR) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the aerospace company’s stock after selling 40,000 shares during the quarter. AAR comprises approximately 1.0% of Canal Insurance CO’s holdings, making the stock its 29th largest position. Canal Insurance CO’s holdings in AAR were worth $4,059,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of AAR during the second quarter valued at approximately $925,068,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of AAR during the second quarter worth $84,251,000. Principal Financial Group Inc. boosted its position in shares of AAR by 4.9% during the first quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company’s stock worth $73,961,000 after acquiring an additional 31,583 shares during the last quarter. Emerald Advisers LLC grew its stake in AAR by 6.3% during the first quarter. Emerald Advisers LLC now owns 445,693 shares of the aerospace company’s stock valued at $48,786,000 after acquiring an additional 26,223 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AAR during the second quarter valued at $39,024,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Price Performance

Shares of AIR stock traded up $1.64 on Tuesday, reaching $100.23. The company’s stock had a trading volume of 161,821 shares, compared to its average volume of 487,279. The stock’s fifty day simple moving average is $120.52 and its 200-day simple moving average is $123.15. AAR Corp. has a 1 year low of $76.10 and a 1 year high of $154.00. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 20.53 and a beta of 1.13.

AAR (NYSE:AIR) last announced its quarterly earnings results on Monday, September 28th. The aerospace company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.19. The company had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $878.81 million. AAR had a net margin of 5.55% and a return on equity of 12.99%. AAR’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 earnings per share. Analysts forecast that AAR Corp. will post 5.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIR. Jefferies Financial Group lifted their price target on shares of AAR from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $145.00 price objective on shares of AAR in a report on Monday, September 28th. Guggenheim reissued a “neutral” rating on shares of AAR in a report on Tuesday, September 29th. KeyCorp restated a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised AAR from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $140.60.

About AAR

AAR Corp. (NYSE: AIR) is a global aviation services company that provides products and support to commercial airlines, government agencies and defense customers. Its offerings include aircraft parts and supply-chain management, component repair and overhaul, airframe maintenance, engineering services, fleet management and expeditionary logistics.

The company operates through businesses that support the maintenance and operation of aircraft throughout their life cycles. AAR distributes aviation parts and manages inventory, performs maintenance, repair and overhaul services for airframes and aircraft components, and provides logistics and aftermarket support for commercial and government fleets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America and international markets.