AAR Corp. (NYSE:AIR) Short Interest Update

AAR Corp. (NYSE:AIR) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 705,800 shares, a drop of 8.0% from the September 30th total of 766,800 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 297,000 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On AAR

Several institutional investors and hedge funds have recently bought and sold shares of AIR. Quest Partners LLC purchased a new position in shares of AAR during the 2nd quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its holdings in AAR by 283.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after buying an additional 402 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of AAR during the second quarter valued at approximately $49,000. Geneos Wealth Management Inc. purchased a new position in shares of AAR in the first quarter worth $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in AAR by 348.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 1,100 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AIR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of AAR in a research report on Tuesday, September 24th. Benchmark reiterated a “buy” rating and issued a $83.00 target price on shares of AAR in a research note on Friday, October 4th. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Stifel Nicolaus lowered their price objective on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.50.

AAR Stock Performance

Shares of AAR stock traded down $1.86 during trading hours on Thursday, reaching $58.70. 215,326 shares of the stock traded hands, compared to its average volume of 307,540. The company has a 50 day moving average price of $64.30 and a 200 day moving average price of $66.79. AAR has a one year low of $54.71 and a one year high of $76.34. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 35.34 and a beta of 1.55.

AAR (NYSE:AIR) last announced its earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. AAR had a net margin of 2.67% and a return on equity of 10.22%. The business had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that AAR will post 3.63 earnings per share for the current fiscal year.

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.