AAR (NYSE: AIR) Stock Price Down 8.9% After Analyst Downgrade

AAR Corp. (NYSE: AIR – Get Rating) shares traded down 8.9% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $ 54.00 to $ 48.00. The stock traded as low as $ 34.62 and last traded at $ 34.62. 1,565 shares changed hands during trading, a decline of 99% from the average session volume of 248,915 shares. The stock had previously closed at $ 38.02.

A number of other research firms have also issued reports on AIR. TheStreet lowered AAR from a “b-” rating to a “c +” rating in a research report on Friday, July 22nd. StockNews.com raised AAR from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $ 52.00.

Insider Activity

In other news, Director David P. Storch sold 25,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $ 46.81, for a total value of $ 1,170,250.00. Following the transaction, the director now owns 315,090 shares in the company, valued at approximately $ 14,749,362.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.74% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of AAR by 10.7% in the 1st quarter. BlackRock Inc. now owns 6,239,962 shares of the aerospace’s stock valued at $ 302,202,000 after acquiring an additional 601,462 shares during the last quarter. Vanguard Group Inc. grew its stake in AAR by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 3,597,926 shares of the aerospace’s stock worth $ 174,247,000 after buying an additional 59,984 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AAR by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,583,671 shares of the aerospace’s stock worth $ 125,127,000 after buying an additional 80,119 shares during the last quarter. Earnest Partners LLC grew its stake in AAR by 69.4% during the 1st quarter. Earnest Partners LLC now owns 2,481,696 shares of the aerospace’s stock worth $ 120,189,000 after buying an additional 1,016,525 shares during the last quarter. Finally, State Street Corp grew its stake in AAR by 32.1% during the 1st quarter. State Street Corp now owns 2,209,912 shares of the aerospace company’s stock worth $ 107,026,000 after buying an additional 537,011 shares during the last quarter. Hedge funds and other institutional investors own 98.13% of the company’s stock.

AAR Stock Down 7.7%

The business has a 50 day moving average of $ 43.65 and a 200-day moving average of $ 45.28. The stock has a market cap of $ 1.24 billion, a PE ratio of 15.81 and a beta of 1.51. The company has a current ratio of 2.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.10.

AAR (NYSE: AIR – Get Rating) last released its quarterly earnings results on Thursday, September 22nd. The aerospace company reported $ 0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.57 by $ 0.04. The firm had revenue of $ 446.30 million for the quarter, compared to the consensus estimate of $ 455.10 million. AAR had a return on equity of 8.53% and a net margin of 4.32%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $ 0.52 EPS. Equities research analysts predict that AAR Corp. will post 2.96 EPS for the current fiscal year.

About AAR

(Get Rating)

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the US

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