AAR (NYSE:AIR) Posts Earnings Results, Beats Estimates By $0.04 EPS

AAR (NYSE:AIR) issued its earnings results on Tuesday. The aerospace company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04, FiscalAI reports. AAR had a return on equity of 12.40% and a net margin of 3.17%.The company had revenue of $845.10 million during the quarter, compared to the consensus estimate of $812.58 million.

AAR Stock Up 4.8%

AAR stock traded up $4.97 during trading on Tuesday, hitting $108.46. 994,453 shares of the company were exchanged, compared to its average volume of 528,658. The company has a market capitalization of $4.29 billion, a P/E ratio of 42.53 and a beta of 1.19. The business’s 50 day moving average is $109.60 and its 200 day moving average is $92.11. AAR has a 52 week low of $46.51 and a 52 week high of $121.64. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial restated a “buy” rating and set a $128.00 price objective (up from $107.00) on shares of AAR in a report on Friday, March 6th. The Goldman Sachs Group began coverage on shares of AAR in a research report on Monday, January 26th. They issued a “neutral” rating and a $121.00 price target for the company. KeyCorp upped their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada raised their price objective on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group lifted their price objective on shares of AAR to $135.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.60.

Insider Buying and Selling

In other news, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the completion of the sale, the chief accounting officer owned 29,557 shares in the company, valued at $2,815,304.25. This represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the transaction, the senior vice president directly owned 65,769 shares in the company, valued at $6,382,881.45. The trade was a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 128,984 shares of company stock valued at $12,517,090 in the last 90 days. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

Hedge funds have recently modified their holdings of the company. McMillan Office Inc. purchased a new position in AAR in the fourth quarter valued at approximately $25,000. Morse Asset Management Inc purchased a new stake in AAR in the third quarter worth $27,000. Osterweis Capital Management Inc. bought a new stake in shares of AAR in the second quarter valued at $26,000. UMB Bank n.a. lifted its position in shares of AAR by 310.3% during the 4th quarter. UMB Bank n.a. now owns 439 shares of the aerospace company’s stock valued at $36,000 after buying an additional 332 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of AAR by 1,925.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 486 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 462 shares during the period. Institutional investors own 90.74% of the company’s stock.

About AAR

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.