AAR (NYSE:AIR) Sets New 12-Month Low - Here's What Happened

Shares of AAR Corp. (NYSE:AIR - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $46.51 and last traded at $47.04, with a volume of 23012 shares. The stock had previously closed at $50.08.

Analysts Set New Price Targets

AIR has been the topic of a number of research reports. StockNews.com cut shares of AAR from a "hold" rating to a "sell" rating in a report on Tuesday. Truist Financial lowered their target price on AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, KeyCorp cut their price target on AAR from $83.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. One investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.20.

AAR Stock Performance

The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.93 billion, a PE ratio of 190.55 and a beta of 1.32. The company has a 50-day moving average price of $62.70 and a two-hundred day moving average price of $64.25.

AAR (NYSE:AIR - Get Free Report) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share 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 business had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. During the same quarter in the previous year, the firm earned $0.85 EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Analysts predict that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $70.81, for a total value of $354,050.00. Following the transaction, the chief executive officer now owns 341,680 shares of the company's stock, valued at $24,194,360.80. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher A. Jessup sold 33,481 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the sale, the senior vice president now owns 63,209 shares in the company, valued at approximately $4,449,913.60. This trade represents a 34.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On AAR

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of AAR by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company's stock worth $2,663,000 after buying an additional 3,612 shares during the period. SG Americas Securities LLC purchased a new stake in shares of AAR during the fourth quarter worth about $1,539,000. Charles Schwab Investment Management Inc. grew its stake in shares of AAR by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock worth $32,976,000 after purchasing an additional 19,863 shares during the last quarter. Shelton Wealth Management LLC purchased a new position in AAR during the 4th quarter valued at about $1,068,000. Finally, Barclays PLC raised its position in AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company's stock valued at $4,328,000 after purchasing an additional 48,298 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

About AAR

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.