AAR (AIR) Stock Price Down 8.5% Following Weak Earnings

AAR Corp. (NYSE:AIR)’s share price dropped 8.5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $39.14 and last traded at $40.21. Approximately 1,250,560 shares changed hands during mid-day trading, an increase of 581% from the average daily volume of 183,665 shares. The stock had previously closed at $43.95.

The aerospace company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $449.70 million for the quarter, compared to the consensus estimate of $450.56 million. AAR had a return on equity of 5.66% and a net margin of 3.20%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS.

Several equities research analysts have issued reports on the stock. SunTrust Banks raised their price objective on shares of AAR to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 price target on shares of AAR in a research report on Friday, October 13th. Finally, Seaport Global Securities began coverage on shares of AAR in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.25.

In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the transaction, the director now directly owns 23,406 shares in the company, valued at $783,398.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.33% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AIR. Aperio Group LLC raised its position in AAR by 9.1% during the second quarter. Aperio Group LLC now owns 14,676 shares of the aerospace company’s stock valued at $510,000 after purchasing an additional 1,223 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in AAR by 6.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 680 shares in the last quarter. Great West Life Assurance Co. Can raised its position in AAR by 3.8% during the second quarter. Great West Life Assurance Co. Can now owns 45,716 shares of the aerospace company’s stock valued at $1,588,000 after purchasing an additional 1,656 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in AAR by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 296,426 shares of the aerospace company’s stock valued at $10,304,000 after purchasing an additional 2,147 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in AAR by 70.8% during the second quarter. Advisors Asset Management Inc. now owns 30,304 shares of the aerospace company’s stock valued at $1,053,000 after purchasing an additional 12,557 shares in the last quarter. Institutional investors and hedge funds own 88.02% of the company’s stock.

The company has a market capitalization of $1,489.79, a P/E ratio of 23.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.90 and a quick ratio of 1.38.

COPYRIGHT VIOLATION WARNING: “AAR (AIR) Stock Price Down 8.5% Following Weak Earnings” was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.com-unik.info/2017/12/23/aar-air-stock-price-down-8-5-following-weak-earnings.html.

AAR 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.

Receive News & Ratings for AAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit