Victory Capital Management Inc. Has $19.75 Million Stake in AAR Corp. (NYSE:AIR)

Victory Capital Management Inc. reduced its holdings in AAR Corp. (NYSE:AIR) by 19.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 271,616 shares of the aerospace company’s stock after selling 66,765 shares during the quarter. Victory Capital Management Inc.’s holdings in AAR were worth $19,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Comerica Bank increased its stake in AAR by 0.9% during the 4th quarter. Comerica Bank now owns 17,601 shares of the aerospace company’s stock worth $1,098,000 after purchasing an additional 152 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in shares of AAR by 4.0% in the second quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock valued at $424,000 after buying an additional 225 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of AAR by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock worth $1,214,000 after acquiring an additional 300 shares during the period. EverSource Wealth Advisors LLC lifted its position in AAR by 283.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 402 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in AAR by 40.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,488 shares of the aerospace company’s stock worth $108,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analyst Upgrades and Downgrades

AIR has been the topic of several recent research reports. Stifel Nicolaus dropped their price target on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Royal Bank of Canada increased their target price on shares of AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

AAR Stock Performance

Shares of AIR opened at $65.94 on Friday. The company has a market cap of $2.34 billion, a PE ratio of 38.79 and a beta of 1.55. The firm has a 50-day moving average of $65.64 and a 200-day moving average of $66.48. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41.

AAR (NYSE:AIR) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. AAR had a return on equity of 10.16% and a net margin of 2.00%. The firm had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. As a group, equities analysts forecast that AAR Corp. will post 3.84 earnings per share for the current year.

AAR Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.