Short Interest in AAR Corp. (NYSE:AIR) Increases By 9.4%

AAR Corp. (NYSE:AIR) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 799,800 shares, an increase of 9.4% from the June 30th total of 731,400 shares. Based on an average daily trading volume, of 288,500 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.3% of the shares of the stock are sold short.

Insider Activity

In other AAR news, CAO Eric Pachapa sold 5,121 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $70.96, for a total transaction of $363,386.16. Following the completion of the transaction, the chief accounting officer now owns 25,015 shares in the company, valued at $1,775,064.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Christopher A. Jessup sold 15,929 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the sale, the senior vice president now directly owns 51,803 shares in the company, valued at approximately $3,630,872.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Eric Pachapa sold 5,121 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $70.96, for a total value of $363,386.16. Following the sale, the chief accounting officer now directly owns 25,015 shares of the company’s stock, valued at $1,775,064.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,023 shares of company stock worth $2,528,708. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AAR

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in shares of AAR during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC increased its holdings in AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 402 shares during the last quarter. Innealta Capital LLC bought a new stake in AAR in the second quarter valued at about $49,000. Geneos Wealth Management Inc. acquired a new position in AAR in the first quarter valued at about $63,000. Finally, Psagot Value Holdings Ltd. Israel boosted its holdings in AAR by 737.1% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,105 shares of the aerospace company’s stock worth $69,000 after buying an additional 973 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIR has been the topic of several research analyst reports. Benchmark increased their target price on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Stifel Nicolaus decreased their price objective on shares of AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Finally, Royal Bank of Canada boosted their target price on shares of AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AAR presently has an average rating of “Moderate Buy” and an average target price of $83.50.

AAR Trading Down 1.8 %

Shares of AIR traded down $1.20 during trading hours on Tuesday, hitting $64.54. 124,670 shares of the stock traded hands, compared to its average volume of 314,945. The business has a fifty day moving average of $70.11 and a 200-day moving average of $66.22. The firm has a market capitalization of $2.30 billion, a PE ratio of 38.08 and a beta of 1.54. AAR has a 1-year low of $55.00 and a 1-year high of $76.34. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83.

AAR (NYSE:AIR) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. AAR had a net margin of 2.00% and a return on equity of 10.16%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. Analysts expect that AAR will post 3.84 EPS for the current year.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.