AAR Corp. (NYSE:AIR) Director David P. Storch Sells 2,000 Shares

AAR Corp. (NYSE:AIR) Director David P. Storch sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $42.12, for a total value of $84,240.00. Following the transaction, the director now directly owns 407,303 shares of the company’s stock, valued at $17,155,602.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of AIR opened at $40.66 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.55 and a quick ratio of 1.12. The stock has a 50-day moving average of $41.80 and a 200-day moving average of $32.42. The company has a market cap of $1.44 billion, a PE ratio of -67.77 and a beta of 1.84. AAR Corp. has a one year low of $13.80 and a one year high of $45.49.

AAR (NYSE:AIR) last issued its earnings results on Monday, March 22nd. The aerospace company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The company had revenue of $410.30 million during the quarter, compared to the consensus estimate of $411.89 million. AAR had a positive return on equity of 5.46% and a negative net margin of 1.16%. The firm’s revenue for the quarter was down 25.8% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Analysts expect that AAR Corp. will post 1.13 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. Canaccord Genuity raised their target price on AAR from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, March 29th. Benchmark increased their price target on AAR from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, March 24th. Truist increased their price target on AAR from $41.00 to $50.00 in a report on Friday, March 19th. Truist Securities increased their price target on AAR from $41.00 to $50.00 in a report on Friday, March 19th. Finally, Credit Suisse Group increased their price target on AAR from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. AAR currently has a consensus rating of “Buy” and a consensus target price of $45.00.

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of AAR in the 4th quarter valued at about $19,243,000. UBS Asset Management Americas Inc. boosted its stake in AAR by 8.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 33,714 shares of the aerospace company’s stock valued at $1,221,000 after purchasing an additional 2,764 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AAR by 20.9% during the 4th quarter. JPMorgan Chase & Co. now owns 693,562 shares of the aerospace company’s stock valued at $25,120,000 after purchasing an additional 119,723 shares during the last quarter. Verition Fund Management LLC acquired a new position in AAR during the 4th quarter valued at about $1,218,000. Finally, SummerHaven Investment Management LLC acquired a new position in AAR during the 4th quarter valued at about $776,000. Institutional investors own 85.73% of the company’s stock.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.

Read More: How Important is Technical Analysis of Stocks

Receive News & Ratings for AAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR and related companies with MarketBeat.com's FREE daily email newsletter.