Christopher A. Jessup Sells 33,481 Shares of AAR Corp. (NYSE:AIR) Stock

AAR Corp. (NYSE:AIR) SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 63,209 shares in the company, valued at $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

AAR Trading Down 0.5 %

Shares of NYSE AIR opened at $70.25 on Friday. The company’s 50 day simple moving average is $65.77 and its 200 day simple moving average is $65.18. AAR Corp. has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The firm has a market capitalization of $2.52 billion, a P/E ratio of 250.91 and a beta of 1.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.45.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 7th. The aerospace company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business had revenue of $686.10 million for the quarter, compared to analyst estimates of $654.47 million. During the same period in the prior year, the business posted $0.81 earnings per share. AAR’s revenue was up 25.8% compared to the same quarter last year. On average, analysts predict that AAR Corp. will post 3.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIR. KeyCorp began coverage on shares of AAR in a research report on Thursday. They set an “overweight” rating and a $83.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $83.00 target price on shares of AAR in a research report on Friday, October 4th. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of AAR in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $81.50.

Hedge Funds Weigh In On AAR

Large investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in AAR in the third quarter valued at approximately $25,000. Quest Partners LLC acquired a new stake in AAR in the second quarter worth $33,000. EverSource Wealth Advisors LLC raised its holdings in AAR by 43.0% in the second quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 234 shares during the period. KBC Group NV raised its holdings in AAR by 32.9% in the third 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, ZWJ Investment Counsel Inc. acquired a new stake in AAR in the fourth quarter worth $203,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.