Phocas Financial Corp. Sells 8,300 Shares of AAR Corp. (NYSE:AIR)

Phocas Financial Corp. lowered its position in shares of AAR Corp. (NYSE:AIR) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,809 shares of the aerospace company’s stock after selling 8,300 shares during the period. Phocas Financial Corp.’s holdings in AAR were worth $8,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AIR. Westwood Holdings Group Inc. purchased a new position in shares of AAR in the 2nd quarter valued at $77,754,000. American Century Companies Inc. grew its stake in AAR by 1,956.5% in the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after purchasing an additional 865,705 shares during the last quarter. Boston Partners bought a new position in AAR in the first quarter worth about $25,794,000. Allspring Global Investments Holdings LLC lifted its position in shares of AAR by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock valued at $47,906,000 after buying an additional 181,518 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of AAR by 83.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock valued at $21,627,000 after buying an additional 135,445 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AIR has been the subject of several recent analyst reports. StockNews.com upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of AAR in a research report on Monday, November 4th. Finally, Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of AAR in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.00.

AAR Stock Up 0.5 %

AIR stock opened at $66.51 on Tuesday. The stock has a market capitalization of $2.39 billion, a PE ratio of 36.54 and a beta of 1.57. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. AAR Corp. has a 52 week low of $54.71 and a 52 week high of $76.34. The firm has a 50 day moving average of $64.06 and a 200 day moving average of $66.61.

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

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.