AAR Corp. (AIR) Stock Price Up 2.9%
AAR Corp. (NYSE:AIR)’s share price rose 2.9% during mid-day trading on Monday . The company traded as high as $24.07 and last traded at $24.00, with a volume of 240,585 shares trading hands. The stock had previously closed at $23.33.
AIR has been the subject of a number of analyst reports. TheStreet upgraded AAR Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG reissued a “buy” rating on shares of AAR Corp. in a research report on Friday, June 10th. Finally, Zacks Investment Research cut shares of AAR Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday.
The company has a 50-day moving average of $23.49 and a 200-day moving average of $22.85. The stock has a market cap of $827.24 million and a PE ratio of 17.73.
AAR Corp. (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 12th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $458.20 million for the quarter. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Equities analysts forecast that AAR Corp. will post $1.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, July 20th.
Other institutional investors recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its position in AAR Corp. by 10.7% in the fourth quarter. OppenheimerFunds Inc. now owns 516,637 shares of the company’s stock worth $13,583,000 after buying an additional 50,092 shares during the last quarter. Nationwide Fund Advisors increased its position in AAR Corp. by 22.4% in the fourth quarter. Nationwide Fund Advisors now owns 99,737 shares of the company’s stock worth $2,622,000 after buying an additional 18,222 shares during the last quarter. California Public Employees Retirement System increased its position in AAR Corp. by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 88,800 shares of the company’s stock worth $2,335,000 after buying an additional 5,000 shares during the last quarter. Marshall Wace LLP bought a new position in AAR Corp. during the fourth quarter worth about $2,234,000. Finally, Sei Investments Co. increased its position in AAR Corp. by 16.3% in the fourth quarter. Sei Investments Co. now owns 69,599 shares of the company’s stock worth $1,830,000 after buying an additional 9,738 shares during the last quarter.
AAR CORP. is a diversified provider of products and services to the worldwide commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which provides aftermarket support and services for the commercial aviation and government and defense markets, and Technology Products, which is involved in the design, manufacture, and repair of transportation pallets, and a range of containers and shelters used in support of military and humanitarian tactical deployment activities.
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