AAR (NYSE:AIR) Sets New 52-Week Low After Analyst Downgrade

AAR Corp. (NYSE:AIR) shares reached a new 52-week low on Monday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $54.22 and last traded at $55.12, with a volume of 158599 shares changing hands. The stock had previously closed at $57.14.

A number of other research firms have also recently issued reports on AIR. KeyCorp began coverage on shares of AAR in a research note on Thursday, January 16th. They set an “overweight” rating and a $83.00 target price for the company. Truist Financial reduced their price objective on AAR from $81.00 to $78.00 and set a “buy” rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.80.

Insider Buying and Selling at AAR

In related news, SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the completion of the sale, the senior vice president now owns 63,209 shares of the company’s stock, valued at $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Mcclain Holmes III sold 128,427 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the completion of the transaction, the chief executive officer now directly owns 346,680 shares in the company, valued at approximately $23,144,356.80. This represents a 27.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock valued at $12,538,396 in the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of AAR by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock valued at $2,663,000 after purchasing an additional 3,612 shares during the last quarter. SG Americas Securities LLC acquired a new stake in AAR in the fourth quarter valued at about $1,539,000. Charles Schwab Investment Management Inc. grew its position in AAR by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company’s stock valued at $32,976,000 after acquiring an additional 19,863 shares during the last quarter. Shelton Wealth Management LLC acquired a new position in AAR during the fourth quarter worth about $1,068,000. Finally, Barclays PLC lifted its holdings in shares of AAR by 269.4% in the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after acquiring an additional 48,298 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Trading Down 1.0 %

The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 197.91 and a beta of 1.58. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average price is $66.06 and its two-hundred day moving average price is $65.29.

AAR (NYSE:AIR) last issued its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

AAR Company 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.