SunTrust Banks Analysts Raise Earnings Estimates for AAR Corp. (AIR)
AAR Corp. (NYSE:AIR) – Investment analysts at SunTrust Banks lifted their Q4 2019 earnings per share estimates for AAR in a research note issued to investors on Tuesday, September 11th. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will earn $0.88 per share for the quarter, up from their previous forecast of $0.82. SunTrust Banks has a “Hold” rating and a $47.00 price objective on the stock.
Other analysts also recently issued reports about the company. Seaport Global Securities reaffirmed a “buy” rating and set a $52.00 price target on shares of AAR in a report on Friday, July 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target (up from $48.00) on shares of AAR in a report on Wednesday, July 11th. Zacks Investment Research raised AAR from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday. Finally, ValuEngine cut AAR from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. AAR presently has a consensus rating of “Buy” and an average price target of $50.80.
AAR (NYSE:AIR) last announced its quarterly earnings results on Tuesday, July 10th. The aerospace company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $483.51 million. AAR had a return on equity of 6.39% and a net margin of 0.85%. AAR’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS.
In other news, VP Robert J. Regan sold 24,239 shares of AAR stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $47.36, for a total transaction of $1,147,959.04. Following the sale, the vice president now owns 116,777 shares in the company, valued at $5,530,558.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Eric Pachapa sold 3,000 shares of AAR stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $46.75, for a total value of $140,250.00. Following the sale, the chief accounting officer now owns 9,626 shares in the company, valued at approximately $450,015.50. The disclosure for this sale can be found here. Insiders have sold 102,739 shares of company stock worth $4,850,280 in the last quarter. Insiders own 7.43% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in AAR by 11,341.5% in the 2nd quarter. Glenmede Trust Co. NA now owns 698,849 shares of the aerospace company’s stock valued at $32,490,000 after acquiring an additional 692,741 shares during the period. Franklin Resources Inc. increased its position in AAR by 24.8% in the 1st quarter. Franklin Resources Inc. now owns 3,329,981 shares of the aerospace company’s stock valued at $146,885,000 after acquiring an additional 662,512 shares during the period. GW&K Investment Management LLC acquired a new position in AAR in the 1st quarter valued at about $23,564,000. Ceredex Value Advisors LLC acquired a new position in AAR in the 1st quarter valued at about $23,557,000. Finally, Advisors Asset Management Inc. increased its position in AAR by 518.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 357,536 shares of the aerospace company’s stock valued at $3,010,000 after acquiring an additional 299,692 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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