AAR (NYSE:AIR) Shares Down 4.6% – Time to Sell?

Shares of AAR Corp. (NYSE:AIR) were down 4.6% during trading on Thursday . The stock traded as low as $112.53 and last traded at $111.84. Approximately 168,575 shares changed hands during trading, a decline of 63% from the average session volume of 459,908 shares. The stock had previously closed at $117.23.

Wall Street Analysts Forecast Growth

AIR has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Guggenheim initiated coverage on shares of AAR in a research note on Monday. They set a “neutral” rating for the company. Truist Financial boosted their price target on shares of AAR from $128.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 27th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and an average target price of $135.60.

AAR Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 23.11 and a beta of 1.11. The stock’s 50 day simple moving average is $135.08 and its 200-day simple moving average is $123.68.

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

Institutional Trading of AAR

A number of institutional investors and hedge funds have recently made changes to their positions in AIR. BlackRock Inc. acquired a new position in shares of AAR during the 2nd quarter worth about $925,068,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in AAR in the 2nd quarter worth approximately $84,251,000. Bank of New York Mellon Corp acquired a new position in shares of AAR during the second quarter worth approximately $39,024,000. Bank of America Corp DE acquired a new position in shares of AAR during the second quarter worth approximately $33,649,000. Finally, Jupiter Topco LLC bought a new stake in shares of AAR in the second quarter valued at approximately $24,861,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

About AAR

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR’s offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

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