AAR Corp. $AIR Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its stake in AAR Corp. (NYSE:AIR) by 7.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,344 shares of the aerospace company’s stock after selling 36,724 shares during the period. Royal Bank of Canada owned 1.16% of AAR worth $50,389,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of AAR during the first quarter valued at approximately $25,000. McMillan Office Inc. bought a new position in AAR during the 4th quarter valued at $25,000. Osterweis Capital Management Inc. bought a new position in AAR during the 2nd quarter valued at $26,000. Morse Asset Management Inc acquired a new position in shares of AAR during the 3rd quarter valued at $27,000. Finally, NBC Securities Inc. acquired a new position in shares of AAR during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIR. Jefferies Financial Group raised their target price on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. KeyCorp reissued a “sector weight” rating on shares of AAR in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Wall Street Zen cut shares of AAR from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. 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 company. Based on data from MarketBeat.com, AAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.60.

AAR Price Performance

AIR stock opened at $140.00 on Monday. AAR Corp. has a one year low of $71.43 and a one year high of $146.75. The firm has a 50-day moving average of $130.00 and a two-hundred day moving average of $117.80. The firm has a market capitalization of $5.58 billion, a PE ratio of 28.98 and a beta of 1.11. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts forecast that AAR Corp. will post 5.92 earnings per share for the current year.

About AAR

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.