AAR (NYSE:AIR) Shares Gap Down – Here’s Why

Shares of AAR Corp. (NYSE:AIR) gapped down prior to trading on Wednesday . The stock had previously closed at $141.40, but opened at $133.99. AAR shares last traded at $130.8280, with a volume of 189,168 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Weiss Ratings lowered shares of AAR from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of AAR from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $132.20.

AAR Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. The firm has a fifty day simple moving average of $125.44 and a two-hundred day simple moving average of $115.33. The firm has a market cap of $5.05 billion, a PE ratio of 28.23 and a beta of 1.09.

AAR (NYSE:AIR) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. AAR had a net margin of 5.46% and a return on equity of 12.39%. The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. During the same period in the previous year, the firm posted $1.16 EPS. Equities analysts predict that AAR Corp. will post 4.92 EPS for the current fiscal year.

Institutional Trading of AAR

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after purchasing an additional 904 shares during the period. Millennium Management LLC increased its stake in AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after buying an additional 35,608 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after buying an additional 4,288 shares during the period. State Street Corp lifted its holdings in AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after buying an additional 188,406 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in AAR by 4.2% during the 2nd quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after buying an additional 10,725 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

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.