Short Interest in AAR Corp. (NYSE:AIR) Grows By 38.4%

AAR Corp. (NYSE:AIR - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 894,600 shares, an increase of 38.4% from the March 15th total of 646,200 shares. Based on an average trading volume of 293,300 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.5% of the shares of the stock are short sold.

AAR Price Performance

Shares of AIR stock traded up $0.96 during trading hours on Wednesday, hitting $51.87. The company's stock had a trading volume of 300,207 shares, compared to its average volume of 276,148. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $60.30 and a 200-day moving average of $63.56. AAR has a twelve month low of $46.51 and a twelve month high of $76.34. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 185.26 and a beta of 1.32.

AAR (NYSE:AIR - Get Free Report) last announced its earnings results on Thursday, March 27th. The aerospace company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The firm had revenue of $678.20 million for the quarter, compared to analysts' expectations of $699.13 million. During the same quarter in the prior year, the firm earned $0.85 EPS. AAR's quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that AAR will post 3.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of AAR from a "sell" rating to a "hold" rating in a research note on Saturday. KeyCorp decreased their price target on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Truist Financial dropped their price objective on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $80.20.

Institutional Investors Weigh In On AAR

Several hedge funds have recently modified their holdings of AIR. National Bank of Canada FI purchased a new position in shares of AAR during the third quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AAR during the fourth quarter worth $30,000. Virtus Fund Advisers LLC purchased a new stake in shares of AAR in the fourth quarter valued at $36,000. Sterling Capital Management LLC lifted its position in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after buying an additional 784 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in AAR by 124.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company's stock worth $62,000 after buying an additional 561 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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.