Public Employees Retirement System of Ohio Grows Stake in AAR Corp. (NYSE:AIR)

Public Employees Retirement System of Ohio lifted its stake in AAR Corp. (NYSE:AIR) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 53,473 shares of the aerospace company’s stock after buying an additional 3,205 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in AAR were worth $3,495,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in AAR during the 3rd quarter valued at about $25,000. Quest Partners LLC bought a new stake in shares of AAR during the second quarter valued at approximately $33,000. Innealta Capital LLC purchased a new position in AAR in the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC lifted its position in AAR by 43.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock valued at $57,000 after acquiring an additional 234 shares in the last quarter. Finally, KBC Group NV boosted its stake in AAR by 32.9% during the 3rd quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock valued at $87,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

AAR Stock Performance

Shares of AIR opened at $63.22 on Monday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 34.74 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 Corp. has a one year low of $54.71 and a one year high of $76.34. The business has a fifty day moving average of $64.69 and a 200 day moving average of $66.16.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIR. Benchmark restated a “buy” rating and issued a $83.00 price target on shares of AAR in a research note on Friday, October 4th. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $75.00 price target on shares of AAR in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.00.

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.