Stanley Laman Group Ltd. Sells 2,298 Shares of AAR Corp. (NYSE:AIR)

Stanley Laman Group Ltd. decreased its stake in shares of AAR Corp. (NYSE:AIR) by 3.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 75,073 shares of the aerospace company’s stock after selling 2,298 shares during the period. Stanley Laman Group Ltd. owned 0.21% of AAR worth $4,203,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AIR. Bank of America Corp DE lifted its holdings in shares of AAR by 293.3% in the fourth quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock worth $10,491,000 after buying an additional 127,668 shares in the last quarter. Invesco Ltd. boosted its holdings in AAR by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock valued at $65,607,000 after purchasing an additional 127,148 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of AAR by 8.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company’s stock worth $88,314,000 after purchasing an additional 115,476 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of AAR in the fourth quarter worth $6,849,000. Finally, Norges Bank bought a new stake in AAR during the fourth quarter valued at $6,321,000. Institutional investors own 90.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AIR. Truist Financial decreased their target price on AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Wall Street Zen upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Saturday, April 19th. Finally, KeyCorp dropped their target price on shares of AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, AAR has an average rating of “Moderate Buy” and a consensus price target of $80.20.

AAR Price Performance

AIR opened at $68.57 on Friday. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $2.48 billion, a P/E ratio of 244.90 and a beta of 1.43. The stock has a 50-day moving average price of $58.46 and a 200-day moving average price of $62.91. AAR Corp. has a 12-month low of $46.51 and a 12-month high of $76.34.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $678.20 million for the quarter, compared to the consensus estimate of $699.13 million. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

About AAR

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.