Rubric Capital Management LP Trims Stock Holdings in AAR Corp. (NYSE:AIR)

Rubric Capital Management LP cut its holdings in shares of AAR Corp. (NYSE:AIR) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471,699 shares of the aerospace company’s stock after selling 103,301 shares during the period. Rubric Capital Management LP owned 1.31% of AAR worth $30,830,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of AAR by 4.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 31,103 shares of the aerospace company’s stock valued at $1,862,000 after purchasing an additional 1,242 shares during the period. Lazard Asset Management LLC raised its position in AAR by 28.0% during the 1st quarter. Lazard Asset Management LLC now owns 2,559 shares of the aerospace company’s stock worth $152,000 after buying an additional 560 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AAR by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,805 shares of the aerospace company’s stock worth $1,186,000 after acquiring an additional 1,249 shares during the period. Kennedy Capital Management LLC raised its holdings in AAR by 205.0% during the first quarter. Kennedy Capital Management LLC now owns 79,393 shares of the aerospace company’s stock worth $4,753,000 after purchasing an additional 53,363 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in AAR by 13.8% in the first quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock valued at $31,772,000 after purchasing an additional 64,274 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Price Performance

AAR stock opened at $69.22 on Wednesday. The firm’s 50-day moving average is $64.32 and its two-hundred day moving average is $66.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. The stock has a market capitalization of $2.49 billion, a P/E ratio of 38.03 and a beta of 1.57. AAR Corp. has a 12-month low of $54.71 and a 12-month high of $76.34.

AAR (NYSE:AIR) last released its earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. AAR had a net margin of 2.67% and a return on equity of 10.22%. The firm had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. During the same period in the previous year, the company earned $0.78 EPS. AAR’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts predict that AAR Corp. will post 3.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIR shares. StockNews.com raised AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research report on Friday, October 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $75.00 target price on shares of AAR in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

AAR 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.