Resolute Capital Asset Partners LLC Raises Stake in AAR Corp. (NYSE:AIR)

Resolute Capital Asset Partners LLC boosted its stake in AAR Corp. (NYSE:AIR) by 54.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the aerospace company’s stock after purchasing an additional 10,562 shares during the quarter. AAR makes up 1.2% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 29th largest position. Resolute Capital Asset Partners LLC owned about 0.08% of AAR worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of AAR in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in AAR by 283.1% in the 1st 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 during the period. Innealta Capital LLC purchased a new position in shares of AAR during the 2nd quarter valued at $49,000. Geneos Wealth Management Inc. purchased a new position in shares of AAR during the 1st quarter valued at $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of AAR by 348.1% in the second 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. Hedge funds and other institutional investors own 90.74% of the company’s stock.

AAR Trading Up 1.4 %

NYSE AIR opened at $68.94 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $65.33 and its two-hundred day simple moving average is $66.54. AAR Corp. has a twelve month low of $54.71 and a twelve month high of $76.34. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 40.55 and a beta of 1.55.

AAR (NYSE:AIR) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $656.50 million for the quarter, compared to analysts’ expectations of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. AAR’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. Research analysts forecast that AAR Corp. will post 3.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price target on AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus decreased their price objective on shares of 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 sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and an average target price of $83.50.

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.