AAR Corp. (NYSE:AIR) Sees Significant Increase in Short Interest

by · The Cerbat Gem

AAR Corp. (NYSE:AIR – Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 617,500 shares, a growth of 12.4% from the November 30th total of 549,500 shares. Based on an average daily trading volume, of 269,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.8% of the shares of the company are short sold.

AAR Price Performance

AIR stock traded up $0.16 during trading on Wednesday, hitting $61.28. 163,993 shares of the company’s stock traded hands, compared to its average volume of 294,604. The business has a fifty day simple moving average of $64.49 and a 200 day simple moving average of $65.57. AAR has a 52 week low of $54.71 and a 52 week high of $76.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 33.67 and a beta of 1.59.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AIR shares. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Benchmark restated a “buy” rating and set a $83.00 target price 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 price objective on shares of AAR in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AAR currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Check Out Our Latest Stock Report on AAR

Institutional Investors Weigh In On AAR

Several large investors have recently added to or reduced their stakes in AIR. Principal Financial Group Inc. grew its holdings in AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company’s stock valued at $32,693,000 after purchasing an additional 77,974 shares during the last quarter. Barclays PLC boosted its stake in shares of AAR by 269.4% during the third quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock valued at $4,328,000 after purchasing an additional 48,298 shares during the period. Earnest Partners LLC boosted its stake in shares of AAR by 3.2% during the second quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock valued at $115,513,000 after purchasing an additional 48,630 shares during the period. Stifel Financial Corp increased its stake in AAR by 4.1% in the 3rd quarter. Stifel Financial Corp now owns 22,859 shares of the aerospace company’s stock worth $1,494,000 after buying an additional 893 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of AAR during the second quarter worth approximately $2,330,000. 90.74% of the stock is owned by institutional investors.

About AAR

(Get Free Report)

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.

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