AAR (NYSE:AIR) Sets New 52-Week Low Following Analyst Downgrade

AAR Corp. (NYSE:AIR)’s share price reached a new 52-week low during trading on Monday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $54.22 and last traded at $55.12, with a volume of 158599 shares traded. The stock had previously closed at $57.14.

Other research analysts have also issued research reports about the company. Truist Financial reduced their target price on AAR from $81.00 to $78.00 and set a “buy” rating for the company in a report on Friday. KeyCorp started coverage on shares of AAR in a research note on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus target price of $80.80.

Insider Activity

In other news, SVP Christopher A. Jessup sold 33,481 shares of AAR stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the completion of the sale, the senior vice president now directly owns 63,209 shares of the company’s stock, valued at approximately $4,449,913.60. The trade was a 34.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean M. Gillen sold 17,385 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the completion of the transaction, the chief financial officer now directly owns 72,326 shares in the company, valued at approximately $4,797,383.58. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,793 shares of company stock worth $12,538,396. 4.10% of the stock is currently owned by insiders.

Institutional Trading of AAR

Hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of AAR during the third quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in shares of AAR during the 4th quarter valued at $30,000. Virtus Fund Advisers LLC purchased a new position in AAR in the 4th quarter worth $36,000. Sterling Capital Management LLC lifted its stake in AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock worth $54,000 after purchasing an additional 784 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in AAR by 124.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock valued at $62,000 after buying an additional 561 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Stock Down 2.4 %

The stock has a market capitalization of $2.00 billion, a P/E ratio of 198.06 and a beta of 1.58. The stock has a 50 day moving average price of $66.69 and a 200-day moving average price of $65.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. AAR’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, research analysts expect that AAR Corp. will post 3.77 EPS for the current fiscal year.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.