Wall Street analysts predict that AAR Corp. (NYSE:AIR) will post earnings per share of $0.62 for the current quarter, Zacks reports. Two analysts have provided estimates for AAR’s earnings. AAR reported earnings per share of $0.54 during the same quarter last year, which suggests a positive year-over-year growth rate of 14.8%. The firm is expected to report its next earnings report after the market closes on Tuesday, July 9th.
According to Zacks, analysts expect that AAR will report full year earnings of $2.54 per share for the current fiscal year. For the next financial year, analysts forecast that the business will report earnings of $2.73 per share, with EPS estimates ranging from $2.71 to $2.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow AAR.
A number of equities research analysts recently issued reports on AIR shares. Canaccord Genuity reissued a “buy” rating and set a $48.00 price target on shares of AAR in a research note on Wednesday, March 20th. ValuEngine lowered AAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 18th. Finally, Zacks Investment Research raised AAR from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $49.50.
In other AAR news, Director Anthony Anderson sold 3,615 shares of AAR stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $33.23, for a total transaction of $120,126.45. Following the completion of the sale, the director now directly owns 19,469 shares of the company’s stock, valued at approximately $646,954.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors Inc. raised its position in AAR by 4.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 7,760 shares of the aerospace company’s stock valued at $290,000 after purchasing an additional 311 shares in the last quarter. Comerica Bank raised its position in AAR by 1.0% during the 4th quarter. Comerica Bank now owns 31,997 shares of the aerospace company’s stock valued at $1,169,000 after purchasing an additional 332 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of AAR by 94.8% in the 4th quarter. Advisor Group Inc. now owns 744 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 362 shares during the period. Mason Street Advisors LLC increased its holdings in shares of AAR by 3.6% in the 1st quarter. Mason Street Advisors LLC now owns 10,482 shares of the aerospace company’s stock valued at $341,000 after acquiring an additional 362 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of AAR by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 5,963 shares of the aerospace company’s stock valued at $222,000 after acquiring an additional 391 shares during the period. 89.46% of the stock is owned by institutional investors and hedge funds.
Shares of AIR stock traded up $0.56 on Friday, reaching $36.79. 613,604 shares of the company’s stock were exchanged, compared to its average volume of 275,440. AAR has a 52 week low of $29.84 and a 52 week high of $51.52. The company has a quick ratio of 1.33, a current ratio of 2.76 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.29 billion, a PE ratio of 20.55 and a beta of 1.07. The business has a fifty day moving average of $32.61.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
Further Reading: How does the Beige Book influence monetary policy?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR and related companies with MarketBeat.com's FREE daily email newsletter.