AAR Corp. (NYSE:AIR) Short Interest Down 20.3% in October

AAR Corp. (NYSE:AIR) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 562,200 shares, a drop of 20.3% from the October 15th total of 705,800 shares. Based on an average daily volume of 279,300 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.6% of the shares of the company are sold short.

Hedge Funds Weigh In On AAR

Several institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL increased its stake in AAR by 902.9% during the first quarter. Blair William & Co. IL now owns 57,679 shares of the aerospace company’s stock worth $3,453,000 after acquiring an additional 51,928 shares during the last quarter. Janus Henderson Group PLC increased its stake in AAR by 13.8% during the first quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock worth $31,772,000 after acquiring an additional 64,274 shares during the last quarter. Kennedy Capital Management LLC increased its stake in AAR by 205.0% during the first quarter. Kennedy Capital Management LLC now owns 79,393 shares of the aerospace company’s stock worth $4,753,000 after acquiring an additional 53,363 shares during the last quarter. Principal Financial Group Inc. increased its stake in AAR by 18.5% during the third quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock worth $32,693,000 after acquiring an additional 77,974 shares during the last quarter. Finally, Boston Partners acquired a new stake in AAR during the first quarter worth about $25,794,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Price Performance

Shares of NYSE AIR traded down $0.90 during trading on Friday, reaching $66.15. The company had a trading volume of 209,840 shares, compared to its average volume of 306,054. AAR has a twelve month low of $54.71 and a twelve month high of $76.34. The stock has a market capitalization of $2.38 billion, a PE ratio of 36.84 and a beta of 1.57. The stock has a 50-day moving average price of $63.98 and a two-hundred day moving average price of $66.69. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.

AAR (NYSE:AIR) last released its earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, sell-side analysts predict that AAR will post 3.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. Finally, StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and an average price target of $81.00.

AAR Company Profile

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.