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.
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.
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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.
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