AAR Corp. (NYSE:AIR) Short Interest Up 12.4% in December

AAR Corp. (NYSE:AIR) was the target of a significant growth in short interest during 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 volume of 269,100 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On AAR

Several hedge funds have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. acquired a new stake in AAR in the second quarter worth $77,754,000. American Century Companies Inc. raised its stake in AAR by 1,956.5% during the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after buying an additional 865,705 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in AAR by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after acquiring an additional 181,518 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in AAR by 83.6% in the second quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock valued at $21,627,000 after acquiring an additional 135,445 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of AAR by 20.5% in the third quarter. Loomis Sayles & Co. L P now owns 790,267 shares of the aerospace company’s stock worth $51,652,000 after acquiring an additional 134,215 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Trading Up 0.3 %

Shares of AIR stock traded up $0.16 during trading hours on Wednesday, reaching $61.28. The company had a trading volume of 163,993 shares, compared to its average volume of 294,604. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. AAR has a 1-year low of $54.71 and a 1-year high of $76.34. The company has a 50 day moving average of $64.48 and a 200 day moving average of $65.54. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 33.67 and a beta of 1.59.

Analysts Set New Price Targets

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

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.