AAR Corp. (NYSE:AIR) Sees Large Growth in Short Interest

AAR Corp. (NYSE:AIR - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 617,500 shares, an increase of 12.4% from the November 30th total of 549,500 shares. Currently, 1.8% of the company's shares are short sold. Based on an average daily trading volume, of 269,100 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AIR shares. Benchmark reissued a "buy" rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. StockNews.com raised shares of AAR from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $75.00 price objective on shares of AAR in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.00.

AAR Stock Performance

AIR traded up $0.16 during midday trading on Wednesday, reaching $61.28. The company had a trading volume of 163,993 shares, compared to its average volume of 294,604. The business has a 50-day moving average price of $64.49 and a two-hundred day moving average price of $65.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. AAR has a 12-month low of $54.71 and a 12-month high of $76.34. The stock has a market cap of $2.20 billion, a PE ratio of 33.67 and a beta of 1.59.

Hedge Funds Weigh In On AAR

Several institutional investors and hedge funds have recently bought and sold shares of AIR. Earnest Partners LLC lifted its position in shares of AAR by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company's stock valued at $115,513,000 after buying an additional 48,630 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in AAR during the second quarter valued at about $77,754,000. Franklin Resources Inc. boosted its position in AAR by 13.4% during the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company's stock worth $59,591,000 after purchasing an additional 114,460 shares during the period. American Century Companies Inc. increased its stake in shares of AAR by 1,956.5% in the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company's stock worth $66,154,000 after purchasing an additional 865,705 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of AAR by 3.6% in the third quarter. Geode Capital Management LLC now owns 796,962 shares of the aerospace company's stock valued at $52,101,000 after purchasing an additional 27,747 shares during the period. 90.74% of the stock is owned by institutional investors.

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.