Jupiter Topco LLC Purchases New Holdings in AAR Corp. $AIR

Jupiter Topco LLC acquired a new stake in shares of AAR Corp. (NYSE:AIR) in the second quarter, HoldingsChannel reports. The fund acquired 173,927 shares of the aerospace company’s stock, valued at approximately $24,861,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. McMillan Office Inc. acquired a new stake in shares of AAR during the fourth quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of AAR in the first quarter worth $25,000. Osterweis Capital Management Inc. acquired a new stake in AAR in the second quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in AAR in the third quarter valued at $27,000. Finally, NBC Securities Inc. bought a new position in AAR during the 4th quarter valued at $28,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AIR shares. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Truist Financial upped their target price on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Jefferies Financial Group increased their price target 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. Wall Street Zen downgraded AAR from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, KeyCorp reissued a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

AAR Trading Down 1.9%

AAR stock opened at $133.36 on Friday. AAR Corp. has a 1 year low of $73.05 and a 1 year high of $154.00. The firm’s 50-day moving average is $138.84 and its 200-day moving average is $122.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. The company has a market cap of $5.32 billion, a P/E ratio of 27.61 and a beta of 1.11.

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