Oppenheimer Asset Management Inc. Boosts Stock Holdings in AAR Corp. (NYSE:AIR)

Oppenheimer Asset Management Inc. increased its position in AAR Corp. (NYSE:AIR) by 8.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,280 shares of the aerospace company’s stock after acquiring an additional 2,711 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of AAR worth $2,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AIR. Comerica Bank raised its stake in shares of AAR by 0.9% in the fourth quarter. Comerica Bank now owns 17,601 shares of the aerospace company’s stock worth $1,098,000 after purchasing an additional 152 shares during the last quarter. Global Financial Private Client LLC lifted its stake in AAR by 4.0% during the 2nd quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock valued at $424,000 after acquiring an additional 225 shares during the period. Louisiana State Employees Retirement System lifted its stake in AAR by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock valued at $1,214,000 after acquiring an additional 300 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 402 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of AAR by 40.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,488 shares of the aerospace company’s stock worth $108,000 after acquiring an additional 428 shares during the period. 90.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price 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. Royal Bank of Canada upped their price objective on AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Trading Up 1.2 %

Shares of AAR stock opened at $68.04 on Wednesday. AAR Corp. has a 1-year low of $54.71 and a 1-year high of $76.34. The company’s fifty day simple moving average is $65.47 and its 200-day simple moving average is $66.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. The stock has a market capitalization of $2.41 billion, a PE ratio of 40.02 and a beta of 1.55.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. AAR had a return on equity of 10.16% and a net margin of 2.00%. The business had revenue of $656.50 million during the quarter, compared to analysts’ expectations of $660.05 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The business’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, equities analysts anticipate that AAR Corp. will post 3.74 earnings per share for the current year.

AAR 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.