Why Is AAR CORP (AIR) Stock Down Today?

Why AIR stock is down today

AAR Corp. stock fell 6.00% to $108.19 in early trading on September 29, 2026, following the announcement of a $1.8 billion deal to acquire a 65% stake in MRO Holdings. The stock had opened with a 7.3% gap up from the previous close but quickly reversed direction amid investor reaction to the acquisition.

What Happened

AAR Corp. confirmed the acquisition of a controlling stake in Panama-based MRO Holdings, a leading aircraft maintenance firm. The deal, valued at $1.8 billion, is to be funded with $2.1 billion in debt and $780 million in equity at $135 per share. The company also has an option to acquire the remaining 35% of MRO Holdings in tranches over six years. The SEC 8-K filing on September 28 detailed the transaction, which includes a $230 million private investment in equity. The Fly and Reuters both reported the deal, as did a slide deck published by AAR Corp. for its Q1 2027 earnings call. The stock’s sharp intraday decline came after a strong open, suggesting market participants may have questioned the valuation or financing structure of the acquisition.

What The Data Shows

The stock opened at $123.51, a 7.3% gap up from the prior close of $115.09, but fell to a session low of $107.77 by 9:40 AM ET. The last traded price was $107.89, with 0.3 million shares exchanged, or 0.8 times the 3-month daily average. AAR has a market cap of $4.6 billion, a P/E ratio of 23.7, and trailing 12-month revenue growth of 19.0%. The stock has traded between $76.10 and $154.00 over the past 52 weeks. On September 29, it printed nine fresh 52-week lows, indicating broad selling pressure.

What To Watch

AAR’s Q1 2027 earnings report is scheduled for September 28, 2026, after the market close. Investors will monitor the company’s ability to integrate MRO Holdings and manage the debt load associated with the acquisition. Coverage breadth and analyst commentary will also be key in the coming days.