AAR (NYSE:AIR) Sets New 52-Week Low at $54.75

AAR Corp. (NYSE:AIR)’s stock price reached a new 52-week low on Monday . The stock traded as low as $54.75 and last traded at $55.68, with a volume of 55031 shares changing hands. The stock had previously closed at $60.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AIR shares. Royal Bank of Canada lifted their price target on shares of AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Benchmark increased their price target on AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus decreased their price objective on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

AAR Price Performance

The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $68.72 and a 200 day simple moving average of $66.29. The stock has a market cap of $2.07 billion, a P/E ratio of 34.34 and a beta of 1.54.

AAR (NYSE:AIR) last released its earnings results 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. AAR had a net margin of 2.00% and a return on equity of 10.16%. The business had revenue of $656.50 million during the quarter, compared to the consensus estimate of $660.05 million. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Sell-side analysts forecast that AAR Corp. will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates bought a new position in AAR during the fourth quarter worth $290,000. DekaBank Deutsche Girozentrale lifted its position in AAR by 124.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,251 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 694 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AAR by 5.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,272 shares of the aerospace company’s stock worth $1,015,000 after acquiring an additional 896 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of AAR by 1,312.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,536 shares of the aerospace company’s stock worth $2,467,000 after purchasing an additional 36,737 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in AAR during the 4th quarter worth approximately $1,048,000. 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.