AAR Corp. (NYSE:AIR) – Equities researchers at Seaport Global Securities issued their Q1 2018 earnings per share (EPS) estimates for AAR Corp. in a note issued to investors on Tuesday. Seaport Global Securities analyst J. Sullivan forecasts that the aerospace company will post earnings of $0.35 per share for the quarter. Seaport Global Securities has a “Neutral” rating and a $39.00 price target on the stock. Seaport Global Securities also issued estimates for AAR Corp.’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.79 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.59 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.28 EPS.
AIR has been the subject of a number of other research reports. Canaccord Genuity began coverage on AAR Corp. in a report on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price for the company. Zacks Investment Research raised AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, May 23rd. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Noble Financial reissued a “buy” rating on shares of AAR Corp. in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. AAR Corp. has a consensus rating of “Hold” and a consensus target price of $44.71.
Shares of AAR Corp. (AIR) traded down 0.14% during midday trading on Thursday, reaching $35.30. 150,555 shares of the company’s stock traded hands. The stock has a 50 day moving average of $35.82 and a 200-day moving average of $35.04. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 21.60 and a beta of 1.39. AAR Corp. has a 52-week low of $27.36 and a 52-week high of $38.75.
AAR Corp. (NYSE:AIR) last announced its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS.
AAR Corp. declared that its Board of Directors has approved a share buyback program on Tuesday, July 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 20.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the transaction, the vice president now owns 114,193 shares in the company, valued at $4,171,470.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $37.28, for a total value of $1,610,496.00. Following the completion of the transaction, the insider now owns 317,665 shares in the company, valued at approximately $11,842,551.20. The disclosure for this sale can be found here. Insiders have sold 91,840 shares of company stock valued at $3,401,115 in the last three months. Insiders own 9.33% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AIR. Bank of Montreal Can increased its position in shares of AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 309 shares during the period. Louisiana State Employees Retirement System increased its position in shares of AAR Corp. by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the aerospace company’s stock worth $437,000 after purchasing an additional 200 shares during the period. Great West Life Assurance Co. Can increased its position in shares of AAR Corp. by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 44,060 shares of the aerospace company’s stock worth $1,481,000 after purchasing an additional 2,821 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of AAR Corp. by 15.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,395 shares of the aerospace company’s stock worth $1,123,000 after purchasing an additional 4,592 shares during the period. Finally, First Trust Advisors LP increased its position in shares of AAR Corp. by 25.3% in the first quarter. First Trust Advisors LP now owns 62,936 shares of the aerospace company’s stock worth $2,117,000 after purchasing an additional 12,701 shares during the period. Institutional investors own 87.44% of the company’s stock.
About AAR Corp.
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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