AAR (NYSE:AIR) Shares Gap Down – Here’s What Happened

AAR Corp. (NYSE:AIR) gapped down prior to trading on Friday . The stock had previously closed at $68.35, but opened at $63.58. AAR shares last traded at $59.00, with a volume of 330,752 shares changing hands.

Wall Street Analyst Weigh In

AIR has been the subject of a number of research reports. KeyCorp assumed coverage on shares of AAR in a research report on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price target for the company. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.50.

AAR Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The company has a market capitalization of $2.14 billion, a PE ratio of 213.92 and a beta of 1.58. The company’s 50-day simple moving average is $66.95 and its 200-day simple moving average is $65.49.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The firm had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Transactions at AAR

In other AAR news, CFO Sean M. Gillen sold 17,385 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the transaction, the chief financial officer now directly owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. The trade was a 19.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jessica A. Garascia sold 1,500 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $66.90, for a total transaction of $100,350.00. Following the completion of the sale, the chief accounting officer now owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock worth $12,538,396 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of AAR by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock valued at $235,369,000 after buying an additional 58,694 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of AAR by 8.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company’s stock worth $88,314,000 after purchasing an additional 115,476 shares in the last quarter. Invesco Ltd. grew its stake in shares of AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock worth $65,607,000 after purchasing an additional 127,148 shares during the period. Franklin Resources Inc. increased its holdings in shares of AAR by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock valued at $59,591,000 after purchasing an additional 114,460 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in AAR by 2.4% during the fourth quarter. American Century Companies Inc. now owns 893,822 shares of the aerospace company’s stock worth $54,773,000 after buying an additional 20,794 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.