AAR Corp. $AIR Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its stake in shares of AAR Corp. (NYSE:AIR) by 20.4% during the first quarter, HoldingsChannel.com reports. The firm owned 90,749 shares of the aerospace company’s stock after acquiring an additional 15,345 shares during the period. First Trust Advisors LP’s holdings in AAR were worth $9,933,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of AAR during the 1st quarter worth $25,000. McMillan Office Inc. purchased a new position in shares of AAR in the 4th quarter worth $25,000. Osterweis Capital Management Inc. purchased a new position in shares of AAR in the 2nd quarter worth $26,000. Morse Asset Management Inc acquired a new position in AAR in the third quarter valued at $27,000. Finally, NBC Securities Inc. acquired a new position in AAR in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AIR. Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Truist Financial boosted their target price on AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Jefferies Financial Group increased their target price on shares of AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.60.

AAR Stock Up 0.4%

NYSE AIR opened at $140.00 on Friday. The stock has a market cap of $5.58 billion, a PE ratio of 28.98 and a beta of 1.09. AAR Corp. has a fifty-two week low of $71.43 and a fifty-two week high of $146.75. The business has a 50 day moving average price of $130.00 and a two-hundred day moving average price of $117.66. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.15. The company had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. AAR’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. As a group, sell-side analysts predict that AAR Corp. will post 5.92 EPS for the current fiscal year.

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.