Key Points
- Christopher Jessup, AAR's senior vice president, sold 23,621 shares on Jan. 9 at an average of $97.05 for about $2.29M, cutting his stake by 26.42% to 65,769 shares.
- AAR beat quarterly expectations with EPS $1.18 vs. $1.02 and revenue of $795.3M (up 15.9% YoY); the stock trades near its 52-week high (~$98) and the company has a $3.88B market cap.
- Analysts show a moderate buy consensus (average target $101.25, notable targets: Truist $107, RBC $105) and institutional investors own about 90.7% of the shares.
AAR Corp. (NYSE:AIR - Get Free Report) SVP Christopher Jessup sold 23,621 shares of the business's stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the sale, the senior vice president owned 65,769 shares of the company's stock, valued at approximately $6,382,881.45. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
AAR Stock Performance
Shares of AIR stock opened at $98.09 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.88 billion, a PE ratio of 38.47 and a beta of 1.24. The company's fifty day simple moving average is $83.76 and its 200-day simple moving average is $79.92. AAR Corp. has a 52 week low of $46.51 and a 52 week high of $98.92.
AAR (NYSE:AIR - Get Free Report) last announced 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. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $795.30 million during the quarter, compared to analysts' expectations of $760.95 million. During the same period in the prior year, the company earned $0.90 EPS. The firm's revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AAR by 4.5% in the 1st 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 last quarter. Millennium Management LLC increased its holdings in AAR by 35.8% in the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company's stock valued at $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 raised its stake in AAR by 4.6% during the first 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 buying an additional 4,288 shares in the last quarter. Intech Investment Management LLC lifted its holdings in AAR by 122.7% during the 1st quarter. Intech Investment Management LLC now owns 52,651 shares of the aerospace company's stock worth $2,948,000 after buying an additional 29,005 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of AAR by 2.6% in the 1st quarter. Voya Investment Management LLC now owns 12,528 shares of the aerospace company's stock worth $701,000 after acquiring an additional 320 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Zacks Research cut AAR from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 29th. Truist Financial set a $107.00 target price on shares of AAR in a research report on Friday. Wall Street Zen raised shares of AAR from a "hold" rating to a "buy" rating in a report on Saturday, January 3rd. Royal Bank Of Canada lifted their price target on shares of AAR from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of AAR in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.25.
Read Our Latest Stock Report on AAR
About AAR
(
Get Free Report)
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.
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