AAR Corp. (NYSE: AIR- Get a rating) experienced a significant increase in short-term interest in the month of June. As of June 15, there was short interest totaling 1,870,000 shares, an increase of 22.2% from the May 31 total of 1,530,000 shares. Based on an average daily volume of 383,800 shares, the short interest rate is currently 4.9 days. Currently, 5.6% of the company’s shares are sold short.
Shares of AIR were up $0.16 during Monday trading hours, hitting $42.00. The company’s stock had a trading volume of 8,369 shares, compared to an average volume of 364,587. The company’s 50-day simple moving average is $45.69 and its 200-day simple moving average is $45.69. $44.42. The company has a market capitalization of $1.48 billion, a price-earnings ratio of 21.88 and a beta of 1.57. AAR has a fifty-two week low of $30.90 and a fifty-two week high of $52.83. The company has a quick ratio of 1.29, a current ratio of 2.85 and a leverage ratio of 0.10.
RIA has been the subject of a number of recent research reports. Truist Financial raised its price target on the AAR from $53.00 to $58.00 and gave the stock a “buy” rating in a Wednesday, March 23 research note. Royal Bank of Canada raised its price target on the AAR from $50.00 to $56.00 and gave the stock an “outperform” rating in a Wednesday, March 23 research note. To finish, StockNews.com began coverage on AAR in a report on Thursday, March 31. They issued a “hold” rating on the stock. Two equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.
In other AAR news, CEO John McClain Holmes III sold 15,100 shares of the company in a trade on Wednesday, April 6. The stock was sold at an average price of $47.23, for a total transaction of $713,173.00. As a result of the transaction, the CEO now owns 244,041 shares of the company, valued at approximately $11,526,056.43. The transaction was disclosed in an SEC filing, which is available via this hyperlink. Also, director David P. Storch sold 72,409 shares of the company in a trade on Tuesday, April 12. The stock was sold at an average price of $50.15, for a total value of $3,631,311.35. Following the transaction, the administrator now owns 337,516 shares of the company, valued at approximately $16,926,427.40. Disclosure of this sale can be found here. During the last quarter, insiders sold 153,042 shares of the company worth $7,640,586. 7.50% of the shares are held by company insiders.
Hedge funds have recently changed their stakes in the company. Quantbot Technologies LP acquired a new equity stake in AAR in Q1 valued at $26,000. First Bank & Trust acquired a new equity stake in AAR during Q4 for $30,000. FourThought Financial LLC acquired a new stake in AAR stock during Q4 for $38,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new equity stake in AAR during Q4 valued at $40,000. Finally, Catalyst Capital Advisors LLC acquired a new equity stake in AAR during Q1 valued at $40,000. 96.27% of the shares are currently held by hedge funds and other institutional investors.
About the RAA (Get a rating)
AAR Corp. provides products and services to commercial aviation, government and defense markets worldwide. The Aviation Services segment offers after-sales support and services; inventory management and distribution services; and maintenance, repair and overhaul, and engineering services. This segment also sells and rents new, overhauled and repaired engine and airframe parts and components; and provides inventory and repair programs, warranty claims management and outsourcing programs for engine and airframe parts and components, and performance-based supply chain logistics programs in support of the United States
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