AAR Corp. (NYSE:AIR) – Seaport Global Securities increased their Q3 2018 EPS estimates for shares of AAR Corp. in a report released on Monday. Seaport Global Securities analyst J. Sullivan now forecasts that the aerospace company will post earnings per share of $0.48 for the quarter, up from their previous forecast of $0.47. Seaport Global Securities has a “Neutral” rating and a $39.00 price objective on the stock. Seaport Global Securities also issued estimates for AAR Corp.’s Q4 2018 earnings at $0.61 EPS, Q2 2019 earnings at $0.53 EPS and Q4 2019 earnings at $0.68 EPS.
AAR Corp. (NYSE:AIR) last posted its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. AAR Corp. had a return on equity of 5.66% and a net margin of 3.20%. The business had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis.
Other analysts also recently issued reports about the company. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research note on Friday, August 11th. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Canaccord Genuity initiated coverage on AAR Corp. in a research note on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price on the stock. Finally, BidaskClub upgraded AAR Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.67.
AAR Corp. (AIR) traded down 0.98% on Tuesday, reaching $38.32. The company’s stock had a trading volume of 49,874 shares. The company’s 50 day moving average price is $36.72 and its 200-day moving average price is $35.58. AAR Corp. has a 12-month low of $30.37 and a 12-month high of $39.71. The stock has a market cap of $1.33 billion, a PE ratio of 26.43 and a beta of 1.37.
AAR Corp. declared that its board has authorized a stock buyback plan on Tuesday, July 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 20.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, Director Ronald B. Woodard sold 20,000 shares of AAR Corp. stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total transaction of $744,400.00. Following the transaction, the director now directly owns 20,073 shares in the company, valued at $747,117.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of AAR Corp. stock in a transaction on Monday, July 17th. The shares were sold at an average price of $37.28, for a total value of $1,610,496.00. Following the transaction, the insider now owns 317,665 shares in the company, valued at $11,842,551.20. The disclosure for this sale can be found here. Insiders have sold 91,840 shares of company stock worth $3,401,115 over the last quarter. 9.33% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in AAR Corp. by 15.9% during the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 496 shares in the last quarter. FNY Partners Fund LP purchased a new position in AAR Corp. during the first quarter valued at $127,000. Cubist Systematic Strategies LLC purchased a new position in AAR Corp. during the second quarter valued at $213,000. State of Alaska Department of Revenue lifted its position in AAR Corp. by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 6,307 shares of the aerospace company’s stock valued at $219,000 after purchasing an additional 2,787 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in AAR Corp. by 12.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after purchasing an additional 715 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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