AAR (NYSE:AIR) Releases Earnings Results, Beats Expectations By $0.16 EPS

AAR (NYSE:AIR) issued its earnings results on Wednesday. The aerospace company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16, Zacks reports. The firm had revenue of $754.50 million for the quarter, compared to the consensus estimate of $695.81 million. AAR had a return on equity of 11.71% and a net margin of 0.45%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share.

AAR Price Performance

NYSE:AIR opened at $85.03 on Friday. AAR has a one year low of $46.51 and a one year high of $86.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.39 and a current ratio of 2.82. The stock has a market cap of $3.07 billion, a PE ratio of 257.66 and a beta of 1.44. The stock has a 50 day moving average price of $67.01 and a 200 day moving average price of $63.95.

Institutional Investors Weigh In On AAR

Several hedge funds and other institutional investors have recently made changes to their positions in AIR. Millennium Management LLC increased its stake in AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after acquiring an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after acquiring an additional 4,288 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after acquiring an additional 904 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIR shares. KeyCorp increased their price target on AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial increased their target price on AAR from $78.00 to $81.00 and gave the company a “buy” rating in a report on Friday, July 11th. Wall Street Zen raised AAR from a “sell” rating to a “hold” rating in a report on Saturday, April 19th. Finally, Royal Bank Of Canada increased their target price on AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.