Prescott Group Capital Management L.L.C. Invests $1.79 Million in AAR Corp. $AIR

Prescott Group Capital Management L.L.C. acquired a new stake in AAR Corp. (NYSE:AIR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,000 shares of the aerospace company’s stock, valued at approximately $1,793,000. Prescott Group Capital Management L.L.C. owned about 0.05% of AAR as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after purchasing an additional 904 shares during the period. Millennium Management LLC raised its position in AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after buying an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after acquiring an additional 4,288 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of AAR in the second quarter worth $238,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of AAR by 10.8% during the second quarter. KLP Kapitalforvaltning AS now owns 8,200 shares of the aerospace company’s stock worth $564,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AIR. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. KeyCorp lifted their price objective on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada upped their target price on AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Truist Financial set a $107.00 target price on AAR in a report on Friday, January 9th. Finally, Jefferies Financial Group set a $112.00 price target on AAR and gave the company a “buy” rating in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.80.

AAR Trading Down 0.3%

AIR stock opened at $113.23 on Friday. AAR Corp. has a 52-week low of $46.51 and a 52-week high of $118.00. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.48 billion, a P/E ratio of 44.40 and a beta of 1.23. The company’s 50-day simple moving average is $95.48 and its 200-day simple moving average is $85.01.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $795.30 million during the quarter, compared to analysts’ expectations of $760.95 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.AAR’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. As a group, equities analysts forecast that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $95.25, for a total transaction of $455,961.75. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of AAR stock in a transaction on Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the completion of the sale, the senior vice president directly owned 65,769 shares in the company, valued at $6,382,881.45. This represents a 26.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 128,984 shares of company stock valued at $12,517,090. Corporate insiders own 3.60% of the company’s stock.

About AAR

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.