Cibc World Market Inc. Takes $884,000 Position in AAR Corp. $AIR

Cibc World Market Inc. bought a new position in shares of AAR Corp. (NYSE:AIR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,188 shares of the aerospace company’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in AAR during the 2nd quarter worth approximately $925,068,000. Wellington Management Group LLP lifted its holdings in shares of AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of AAR during the second quarter valued at approximately $84,251,000. UBS Group AG boosted its position in shares of AAR by 709.2% during the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after buying an additional 427,906 shares during the last quarter. Finally, State Street Corp grew its holdings in AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after buying an additional 339,595 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Down 2.0%

Shares of AAR stock opened at $135.82 on Friday. AAR Corp. has a 1 year low of $73.05 and a 1 year high of $154.00. The firm has a market cap of $5.42 billion, a PE ratio of 28.12 and a beta of 1.11. The stock has a fifty day moving average price of $138.88 and a 200-day moving average price of $122.71. 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 (NYSE:AIR) last issued its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. The company had revenue of $928.00 million for 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%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. Equities research analysts anticipate that AAR Corp. will post 5.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AIR. KeyCorp reissued a “sector weight” rating on shares of AAR in a research report on Wednesday, July 22nd. Truist Financial lifted their price objective on shares of AAR from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Wall Street Zen downgraded shares of AAR from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group increased their target price on shares of AAR from $150.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.60.

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.