AAR (NYSE:AIR) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

AAR (NYSE:AIR) posted its quarterly earnings results on Tuesday. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.12, Zacks reports. AAR had a net margin of 5.46% and a return on equity of 12.39%. The company had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.11 million.

AAR Stock Up 4.5%

Shares of NYSE:AIR traded up $6.13 during trading on Tuesday, hitting $141.82. 796,076 shares of the company’s stock traded hands, compared to its average volume of 481,083. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 31.45 and a beta of 1.09. AAR has a 52 week low of $71.43 and a 52 week high of $146.75. The company has a 50-day moving average price of $124.83 and a 200-day moving average price of $114.91. The company has a current ratio of 2.70, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54.

Institutional Trading of AAR

Several institutional investors and hedge funds have recently bought and sold shares of AIR. Wellington Management Group LLP grew its holdings in shares of AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after purchasing an additional 878,188 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in AAR by 297.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after purchasing an additional 445,026 shares during the last quarter. UBS Group AG lifted its stake in AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after purchasing an additional 427,906 shares during the last quarter. State Street Corp boosted its position in AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after buying an additional 339,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in AAR by 36.9% in the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after buying an additional 311,258 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIR shares. Truist Financial raised AAR to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen downgraded shares of AAR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Weiss Ratings lowered shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, KeyCorp downgraded shares of AAR from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, AAR currently has a consensus rating of “Buy” and a consensus price target of $132.20.

AAR Company Profile

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.