AAR (NYSE:AIR) Shares Gap Down – Time to Sell?

Shares of AAR Corp. (NYSE:AIR) gapped down before the market opened on Wednesday . The stock had previously closed at $141.40, but opened at $133.99. AAR shares last traded at $130.8280, with a volume of 189,168 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIR. KeyCorp reiterated a “sector weight” rating on shares of AAR in a report on Wednesday. Truist Financial raised shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Jefferies Financial Group increased their price target on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen cut AAR from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $132.20.

AAR Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 2.84. The company has a market capitalization of $5.17 billion, a PE ratio of 26.90 and a beta of 1.09. The company has a 50 day moving average price of $126.25 and a 200 day moving average price of $115.96.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Equities analysts forecast that AAR Corp. will post 5.91 EPS for the current year.

Institutional Investors Weigh In On AAR

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in AAR by 297.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock worth $49,233,000 after purchasing an additional 445,026 shares during the period. UBS Group AG raised its holdings in shares of AAR by 709.2% during the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after purchasing an additional 427,906 shares during the period. State Street Corp boosted its holdings in shares of AAR by 17.1% in the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after buying an additional 339,595 shares during the period. Finally, Franklin Resources Inc. boosted its stake in AAR by 36.9% in the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after acquiring an additional 311,258 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.