AAR (NYSE:AIR) Price Target Cut to $78.00 by Analysts at Truist Financial

AAR (NYSE:AIR) had its target price cut by investment analysts at Truist Financial from $81.00 to $78.00 in a research note issued on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective indicates a potential upside of 36.51% from the company’s current price.

Other analysts have also issued reports about the company. KeyCorp started coverage on AAR in a research note on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target on the stock. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and a consensus target price of $80.80.

AAR Trading Down 16.4 %

Shares of AAR stock opened at $57.14 on Friday. The firm’s 50 day moving average is $66.69 and its 200 day moving average is $65.44. The firm has a market capitalization of $2.05 billion, a PE ratio of 204.08 and a beta of 1.58. AAR has a 1 year low of $54.71 and a 1 year high of $76.34. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84.

AAR (NYSE:AIR) last posted its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $699.13 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Equities research analysts forecast that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $70.40, for a total value of $2,357,062.40. Following the sale, the senior vice president now directly owns 63,209 shares of the company’s stock, valued at approximately $4,449,913.60. This represents a 34.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 1,500 shares of AAR stock in a transaction on Friday, January 10th. The stock was sold at an average price of $66.90, for a total transaction of $100,350.00. Following the transaction, the chief accounting officer now directly owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,793 shares of company stock valued at $12,538,396. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI bought a new stake in AAR in the third quarter worth approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of AAR during the 4th quarter worth approximately $30,000. Virtus Fund Advisers LLC bought a new stake in shares of AAR in the 4th quarter valued at $36,000. Sterling Capital Management LLC lifted its position in shares of AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after acquiring an additional 784 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in AAR by 124.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 561 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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.