AAR Corp. (NYSE:AIR) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP lessened its stake in AAR Corp. (NYSE:AIR) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,699 shares of the aerospace company’s stock after selling 103,301 shares during the quarter. Rubric Capital Management LP’s holdings in AAR were worth $30,830,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of AAR by 283.1% in the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 402 shares in the last quarter. Quest Partners LLC purchased a new position in AAR in the second quarter valued at about $33,000. Innealta Capital LLC acquired a new position in shares of AAR during the second quarter worth about $49,000. KBC Group NV boosted its position in shares of AAR by 32.9% in the third quarter. KBC Group NV now owns 1,324 shares of the aerospace company’s stock worth $87,000 after buying an additional 328 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of AAR by 348.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of AAR in a research report on Monday, November 4th. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $83.00 target price on shares of AAR in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.00.

AAR Stock Down 2.3 %

NYSE:AIR opened at $69.22 on Wednesday. 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 company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 38.03 and a beta of 1.57. AAR Corp. has a one year low of $54.71 and a one year high of $76.34. The stock has a 50-day simple moving average of $64.32 and a 200 day simple moving average of $66.52.

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

About AAR

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.