Summit Creek Advisors LLC Takes $4.57 Million Position in AAR Corp. $AIR

Summit Creek Advisors LLC bought a new position in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 31,949 shares of the aerospace company’s stock, valued at approximately $4,566,000.

Other institutional investors have also made changes to their positions in the company. First National Bank of Omaha bought a new stake in AAR in the 2nd quarter valued at $2,114,000. BlackRock Inc. bought a new position in AAR during the second quarter worth $925,068,000. Deutsche Bank AG bought a new position in AAR during the second quarter worth $8,640,000. Global Retirement Partners LLC acquired a new position in shares of AAR in the second quarter valued at $39,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of AAR in the second quarter valued at $39,024,000. 90.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIR has been the subject of a number of research reports. Truist Financial raised their target price on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group raised their price objective 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. KeyCorp restated a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. One equities research 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. According to MarketBeat, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Trading Down 3.0%

Shares of AAR stock opened at $149.09 on Wednesday. The firm has a 50-day moving average of $137.93 and a 200-day moving average of $121.35. The stock has a market cap of $5.95 billion, a PE ratio of 30.87 and a beta of 1.11. AAR Corp. has a 52-week low of $71.67 and a 52-week high of $154.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 EPS 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 analyst estimates of $893.03 million. During the same period last year, the firm earned $1.16 earnings per share. AAR’s revenue for the quarter 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 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.