AAR Corp. (NYSE:AIR) Short Interest Update

AAR Corp. (NYSE:AIR) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 935,600 shares, an increase of 7.2% from the May 31st total of 872,500 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 310,000 shares, the short-interest ratio is currently 3.0 days.

AAR Stock Performance

NYSE:AIR opened at $72.08 on Thursday. The firm’s 50-day moving average is $70.18 and its 200-day moving average is $65.31. AAR has a 52-week low of $55.00 and a 52-week high of $73.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 42.40 and a beta of 1.54.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AIR shares. Benchmark lifted their price target on shares of AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of AAR in a research note on Friday, May 24th. Finally, Stifel Nicolaus lifted their target price on shares of AAR from $81.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, AAR currently has a consensus rating of “Moderate Buy” and an average target price of $82.50.

Insider Transactions at AAR

In related news, SVP Christopher A. Jessup sold 15,929 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $70.09, for a total value of $1,116,463.61. Following the completion of the sale, the senior vice president now directly owns 51,803 shares in the company, valued at approximately $3,630,872.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AAR news, SVP Christopher A. Jessup sold 15,929 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $70.09, for a total value of $1,116,463.61. Following the transaction, the senior vice president now owns 51,803 shares of the company’s stock, valued at $3,630,872.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Eric Pachapa sold 5,121 shares of AAR stock in a transaction that occurred 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 in the company, valued at approximately $1,775,064.40. The disclosure for this sale can be found here. Insiders sold a total of 43,375 shares of company stock worth $2,994,605 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Trading of AAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank raised its stake in shares of AAR by 0.9% during the fourth quarter. Comerica Bank now owns 17,601 shares of the aerospace company’s stock worth $1,098,000 after buying an additional 152 shares during the last quarter. Sheets Smith Wealth Management increased its stake in AAR by 4.7% in the fourth quarter. Sheets Smith Wealth Management now owns 7,176 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 in the last quarter. GAMMA Investing LLC bought a new stake in AAR in the fourth quarter valued at approximately $27,000. Finally, ProShare Advisors LLC increased its stake in AAR by 7.3% in the first quarter. ProShare Advisors LLC now owns 6,808 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 461 shares in the last quarter. Institutional investors 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. 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.