Edgestream Partners L.P. Purchases Shares of 5,093 AAR Corp. (NYSE:AIR)

Edgestream Partners L.P. purchased a new stake in AAR Corp. (NYSE:AIR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,093 shares of the aerospace company’s stock, valued at approximately $370,000.

Several other institutional investors have also recently added to or reduced their stakes in AIR. American Century Companies Inc. lifted its stake in AAR by 1,956.5% in the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after buying an additional 865,705 shares during the period. Boston Partners acquired a new position in AAR in the first quarter valued at approximately $25,794,000. Allspring Global Investments Holdings LLC lifted its stake in AAR by 889.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock valued at $23,414,000 after buying an additional 351,540 shares during the period. Norges Bank acquired a new position in AAR in the fourth quarter valued at approximately $21,511,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of AAR by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 421,770 shares of the aerospace company’s stock valued at $30,663,000 after acquiring an additional 115,330 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AIR shares. StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Stifel Nicolaus decreased their price objective on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price objective on AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.50.

AAR Trading Down 0.4 %

Shares of AAR stock opened at $69.28 on Monday. The stock has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $66.60. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34. The company has a market capitalization of $2.45 billion, a P/E ratio of 40.75 and a beta of 1.55. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83.

AAR (NYSE:AIR) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $656.50 million during the quarter, compared to the consensus estimate of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, sell-side analysts anticipate that AAR Corp. will post 3.74 earnings per share for the current fiscal year.

About AAR

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.