Envestnet Asset Management Inc. Boosts Stock Position in AAR Corp. (NYSE:AIR)

Envestnet Asset Management Inc. grew its stake in shares of AAR Corp. (NYSE:AIR) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,437 shares of the aerospace company’s stock after buying an additional 7,938 shares during the period. Envestnet Asset Management Inc. owned 0.37% of AAR worth $9,483,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIR. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 402 shares in the last quarter. Quest Partners LLC purchased a new position in shares of AAR during the 2nd quarter valued at about $33,000. Innealta Capital LLC purchased a new position in shares of AAR during the 2nd quarter valued at about $49,000. Geneos Wealth Management Inc. purchased a new position in shares of AAR during the 1st quarter valued at about $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in AAR by 348.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 1,100 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIR has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Tuesday. StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Stifel Nicolaus decreased their price objective on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of AAR in a report on Tuesday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

AAR Stock Performance

NYSE:AIR opened at $64.68 on Friday. The stock’s fifty day moving average is $64.47 and its 200 day moving average is $66.60. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The firm has a market capitalization of $2.29 billion, a PE ratio of 38.05 and a beta of 1.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.41 and a current ratio of 2.98.

AAR (NYSE:AIR) last released its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. AAR had a return on equity of 10.31% and a net margin of 2.67%. The company had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. During the same quarter in the prior year, the firm posted $0.78 EPS. AAR’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AAR Corp. will post 3.72 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.