The Vanguard Group, Inc. recently announced the acquisition of new stake in AAR Corp. (NYSE:AIR). The institutional investor has increased its shareholding in the Industrials company by 2.21% to 3.62 million shares with purchase of 78350.0 shares. This fresh investment now brings its stake to 10.51% valued currently at $162.6 million. In addition, Dimensional Fund Advisors LP raised its holdings by 36061.0 to 2.74 million shares. And Rubric Capital Management LP has lifted its position by 29.50% or 0.33 million shares – to 1.44 million shares.
With over 0.25 million AAR Corp. (AIR) shares trading Friday and a closing price of $49.25 on the day, the dollar volume was approximately $12.48 million. The shares have shown a positive half year performance of 18.19% and its price on 01/13/23 lost nearly -0.44%. Currently, there are 34.20M common shares owned by the public and among those 33.40M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for AIR have a consensus price objective of $58.33. The analysts have set the share’s price value over the next 12 months at a high of $66.00 and a low of $52.00. The average price target is 9.63% above its recent price level and an upside to the estimated low will see the stock gain 5.29% over that period. But an upside of 25.38% will see the stock hit the forecast high price target while median target price for the stock is $57.00.
Insiders at the company have transacted a total of 101 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 701,038 shares. Insider sales of the common stock occurred on 49 occasions, with total insider shares sold totaling 587,403 shares.
The top 3 mutual fund holders in AAR Corp. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and DFA US Small Cap Value Portfolio. iShares Core S&P Small Cap ETF owns 2.47 million shares of the company’s stock, all valued at over $110.71 million. The company sold 1776.0 shares recently to bring their total holdings to about 7.16% of the shares outstanding. Vanguard Total Stock Market Index bought 2382.0 shares to see its total holdings expand to 1.01 million shares valued at over $45.21 million and representing 2.92% of the shares outstanding. DFA US Small Cap Value Portfolio bought 64026.0 shares to bring its total holdings to over 0.88 million shares at a value of $39.62 million. DFA US Small Cap Value Portfolio now owns shares totaling to 2.56% of the shares outstanding.
Shares of AAR Corp. (NYSE: AIR) opened at $48.89, down -$0.58 from a prior closing price of $49.47. However, the script later moved the day high at 49.66, down -0.44%. The company’s stock has a 5-day price change of 6.86% and 25.00% over the past three months. AIR shares are trading 9.69% year to date (YTD), with the 12-month market performance up to 17.94% higher. It has a 12-month low price of $33.75 and touched a high of $52.83 over the same period. AIR has an average intraday trading volume of 228.92K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.38%, 8.80%, and 10.92% respectively.
Institutional ownership of AAR Corp. (NYSE: AIR) shares accounts for 97.70% of the company’s 34.20M shares outstanding. Mutual fund holders own 60.79%, while other institutional holders and individual stakeholders account for 9.88% and 36.75% respectively.
It has a market capitalization of $1.70B and a beta (3y monthly) value of 1.56. The stock’s trailing 12-month PE ratio is 19.42, while the earnings-per-share (ttm) stands at $2.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.67% over the week and 2.90% over the month.
Analysts forecast that AAR Corp. (AIR) will achieve an EPS of $0.67 for the current quarter, $0.77 for the next quarter and $3.53 for 2024. The lowest estimate earnings-per-share for the quarter is $0.64 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $0.53 a year ago. Earnings per share for the fiscal year are expected to increase by 66.40%, and 23.53% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate AAR Corp. (AIR) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AIR, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on October 22, 2021, with the firm’s price target at $45. The Benchmark Company coverage for the AAR Corp. (AIR) stock in a research note released on March 24, 2021 offered a Buy rating with a price target of $52. SunTrust on their part issued Buy rating on January 08, 2020.