AAR Corp. (NYSE:AIR) Sees Significant Increase in Short Interest

AAR Corp. (NYSE:AIR) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 617,500 shares, a growth of 12.4% from the November 30th total of 549,500 shares. Based on an average trading volume of 269,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.8% of the shares of the stock are short sold.

AAR Stock Up 0.3 %

NYSE AIR traded up $0.16 during trading hours on Wednesday, reaching $61.28. 163,993 shares of the company’s stock traded hands, compared to its average volume of 294,604. The firm has a market cap of $2.20 billion, a PE ratio of 33.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. AAR has a 52-week low of $54.71 and a 52-week high of $76.34. The firm has a 50-day simple moving average of $64.49 and a 200 day simple moving average of $65.57.

Institutional Investors Weigh In On AAR

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new position in shares of AAR during the third quarter valued at $25,000. Quest Partners LLC bought a new position in AAR in the second quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its position in shares of AAR by 43.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 234 shares during the last quarter. KBC Group NV lifted its stake in shares of AAR by 32.9% in the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock worth $87,000 after purchasing an additional 328 shares during the period. Finally, L & S Advisors Inc purchased a new position in shares of AAR in the second quarter worth approximately $218,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $75.00 price target on shares of AAR in a research report on Monday, November 4th. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Benchmark reissued a “buy” rating and set a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

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.