AAR Corp. (NYSE:AIR) – Equities researchers at SunTrust Banks dropped their Q3 2018 earnings per share estimates for shares of AAR in a research report issued to clients and investors on Monday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings per share of $0.52 for the quarter, down from their previous estimate of $0.58. SunTrust Banks currently has a “Buy” rating and a $50.00 target price on the stock. SunTrust Banks also issued estimates for AAR’s Q4 2018 earnings at $0.72 EPS, FY2018 earnings at $1.90 EPS and Q3 2019 earnings at $0.74 EPS.
AIR has been the topic of several other reports. Credit Suisse Group upgraded AAR from a “neutral” rating to an “outperform” rating in a research note on Friday, January 12th. Zacks Investment Research upgraded AAR from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, February 20th. Seaport Global Securities upgraded AAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $50.00 in a research note on Tuesday, January 16th. ValuEngine upgraded AAR from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. Finally, Noble Financial reiterated a “buy” rating on shares of AAR in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.50.
Shares of AIR stock opened at $42.90 on Wednesday. The stock has a market capitalization of $1,518.71, a price-to-earnings ratio of 60.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.23. AAR has a one year low of $32.57 and a one year high of $45.60.
AAR (NYSE:AIR) last issued its earnings results on Tuesday, March 20th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $456.30 million for the quarter, compared to analyst estimates of $475.89 million. AAR had a return on equity of 6.02% and a net margin of 1.34%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in AIR. Vaughan Nelson Investment Management L.P. bought a new position in AAR in the 4th quarter worth about $30,164,000. Beach Point Capital Management LP increased its stake in AAR by 102.5% in the 4th quarter. Beach Point Capital Management LP now owns 459,046 shares of the aerospace company’s stock worth $18,036,000 after acquiring an additional 232,382 shares during the last quarter. BlackRock Inc. increased its stake in AAR by 4.2% in the 4th quarter. BlackRock Inc. now owns 5,329,972 shares of the aerospace company’s stock worth $209,416,000 after acquiring an additional 217,049 shares during the last quarter. OxFORD Asset Management LLP increased its stake in AAR by 2,831.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 194,044 shares of the aerospace company’s stock worth $7,362,000 after acquiring an additional 187,425 shares during the last quarter. Finally, Castleark Management LLC bought a new position in AAR in the 4th quarter worth about $7,235,000. Institutional investors and hedge funds own 89.38% of the company’s stock.
In related news, CEO David P. Storch sold 126,679 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $41.53, for a total transaction of $5,260,978.87. Following the sale, the chief executive officer now directly owns 759,639 shares in the company, valued at approximately $31,547,807.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the sale, the director now owns 23,406 shares in the company, valued at $783,398.82. The disclosure for this sale can be found here. Insiders own 9.33% of the company’s stock.
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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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