EFG International AG Acquires New Stake in AAR Corp. $AIR

EFG International AG bought a new position in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 28,734 shares of the aerospace company’s stock, valued at approximately $4,111,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in AAR by 7.5% in the fourth 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. First Eagle Investment Management LLC boosted its position in shares of AAR by 22.5% during the 4th quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company’s stock worth $5,101,000 after purchasing an additional 11,300 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of AAR in the 4th quarter valued at about $1,230,000. Oppenheimer Asset Management Inc. acquired a new position in AAR during the 2nd quarter worth approximately $3,630,000. Finally, First Trust Advisors LP boosted its holdings in AAR by 20.4% in the first quarter. First Trust Advisors LP now owns 90,749 shares of the aerospace company’s stock worth $9,933,000 after acquiring an additional 15,345 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. KeyCorp restated a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

AAR Price Performance

AAR stock opened at $135.41 on Wednesday. The business has a 50-day simple moving average of $138.74 and a 200 day simple moving average of $122.33. AAR Corp. has a 52 week low of $73.05 and a 52 week high of $154.00. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 28.04 and a beta of 1.11. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. During the same quarter last year, the company posted $1.16 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, research analysts forecast that AAR Corp. will post 5.92 earnings per share for the current fiscal year.

AAR 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.