AAR (NYSE:AIR) Shares Gap Up – What’s Next?

AAR Corp. (NYSE:AIR) shares gapped up before the market opened on Friday . The stock had previously closed at $124.60, but opened at $130.31. AAR shares last traded at $125.62, with a volume of 4,955 shares.

Analyst Ratings Changes

AIR has been the topic of a number of recent research reports. Wall Street Zen lowered AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial upped their price target on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group lifted their price objective on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

AAR Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. The stock has a market cap of $5.00 billion, a PE ratio of 25.85 and a beta of 1.11. The company’s 50 day simple moving average is $136.58 and its 200 day simple moving average is $123.63.

AAR (NYSE:AIR) last announced 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. The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The company’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. Analysts expect that AAR Corp. will post 5.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AAR by 4.5% during the 1st 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 last quarter. Millennium Management LLC grew its position in AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $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 grew its position in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after buying an additional 4,288 shares during the period. State Street Corp increased its holdings in AAR by 10.9% during the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after buying an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in AAR by 4.2% during the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after buying an additional 10,725 shares during the last quarter. Hedge funds and other institutional investors own 90.74% of the company’s stock.

About AAR

AAR Corp. is a global provider of aviation services supporting commercial aviation, government and defense customers. The company supplies aircraft parts and equipment, manages inventory and logistics, and provides maintenance, repair and overhaul services for aircraft and components.

AAR’s offerings include parts distribution, supply-chain management, aircraft maintenance, airframe and component repair, and mobility solutions for government and defense operators. Its services are designed to help airlines, aircraft operators and government agencies maintain fleet readiness and manage aviation assets.

Founded in 1955, AAR is headquartered in Wood Dale, Illinois, and serves customers across North America, Europe, Asia and other international markets.