State of Tennessee Treasury Department lifted its position in AAR Corp. (NYSE:AIR) by 22.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,358 shares of the aerospace company’s stock after purchasing an additional 2,492 shares during the quarter. State of Tennessee Treasury Department’s holdings in AAR were worth $277,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of AAR by 79.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,666 shares of the aerospace company’s stock valued at $76,000 after purchasing an additional 1,619 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of AAR in the 1st quarter valued at about $80,000. PNC Financial Services Group Inc. boosted its position in shares of AAR by 37.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,034 shares of the aerospace company’s stock valued at $84,000 after purchasing an additional 1,098 shares during the period. Bank of Montreal Can boosted its position in shares of AAR by 134.5% in the 2nd quarter. Bank of Montreal Can now owns 5,403 shares of the aerospace company’s stock valued at $97,000 after purchasing an additional 3,099 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in AAR by 12.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 5,645 shares of the aerospace company’s stock worth $100,000 after acquiring an additional 611 shares during the period. 87.34% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the company. SunTrust Banks cut AAR from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Wednesday, July 15th. ValuEngine raised AAR from a “sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 price objective on shares of AAR in a research report on Friday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. AAR has a consensus rating of “Buy” and an average price target of $38.17.
AIR opened at $18.60 on Wednesday. AAR Corp. has a 12 month low of $8.56 and a 12 month high of $52.78. The stock has a market capitalization of $671.12 million, a P/E ratio of 155.00 and a beta of 1.65. The business has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $20.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.76 and a quick ratio of 2.13.
AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.55. AAR had a return on equity of 8.21% and a net margin of 0.21%. The firm had revenue of $416.50 million during the quarter, compared to the consensus estimate of $325.87 million. Research analysts anticipate that AAR Corp. will post 0.32 EPS for the current year.
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.
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