Castleark Management LLC Cuts Position in AAR Corp. $AIR

Castleark Management LLC trimmed its holdings in shares of AAR Corp. (NYSE:AIR) by 30.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,264 shares of the aerospace company’s stock after selling 26,590 shares during the period. Castleark Management LLC’s holdings in AAR were worth $6,596,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after acquiring an additional 904 shares in the last quarter. Millennium Management LLC raised its position in AAR by 35.8% in the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after purchasing an additional 35,608 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in AAR by 4.6% in 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 valued at $5,453,000 after purchasing an additional 4,288 shares during the period. State Street Corp lifted its stake in shares of AAR by 10.9% during the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after purchasing an additional 188,406 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of AAR by 4.2% during the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after purchasing an additional 10,725 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Price Performance

Shares of AIR stock opened at $128.86 on Monday. The firm has a market cap of $5.14 billion, a P/E ratio of 26.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24. AAR Corp. has a 1-year low of $71.43 and a 1-year high of $146.75. The firm has a fifty day moving average of $126.74 and a two-hundred day moving average of $116.24.

AAR (NYSE:AIR) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.15. The business had revenue of $928.00 million for 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 company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, research analysts anticipate that AAR Corp. will post 5.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AIR. Truist Financial raised AAR to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, KeyCorp reiterated a “sector weight” rating on shares of AAR in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $132.20.

AAR 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.