Analysts Set AAR Corp. (NYSE:AIR) Target Price at $80.80

Shares of AAR Corp. (NYSE:AIR) have been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $80.80.

Several brokerages have commented on AIR. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a report on Saturday. KeyCorp initiated coverage on shares of AAR in a research note on Thursday, January 16th. They issued an “overweight” rating and a $83.00 price objective on the stock. Finally, Truist Financial decreased their target price on shares of AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday.

Insiders Place Their Bets

In related news, CEO John Mcclain Holmes III sold 128,427 shares of AAR stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the sale, the chief executive officer now directly owns 346,680 shares in the company, valued at $23,144,356.80. The trade was a 27.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 1,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were 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 in the company, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,793 shares of company stock valued at $12,538,396 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in shares of AAR by 89.1% during the 3rd quarter. Intech Investment Management LLC now owns 15,087 shares of the aerospace company’s stock valued at $986,000 after acquiring an additional 7,108 shares during the last quarter. Citigroup Inc. boosted its stake in shares of AAR by 12.7% during the 3rd quarter. Citigroup Inc. now owns 71,869 shares of the aerospace company’s stock valued at $4,697,000 after buying an additional 8,113 shares during the period. FMR LLC grew its stake in AAR by 24.2% in the third quarter. FMR LLC now owns 109,543 shares of the aerospace company’s stock valued at $7,160,000 after purchasing an additional 21,342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AAR by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,843 shares of the aerospace company’s stock worth $643,000 after buying an additional 551 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of AAR by 2.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 74,736 shares of the aerospace company’s stock valued at $4,885,000 after purchasing an additional 1,900 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

AAR Stock Performance

Shares of AIR stock opened at $57.14 on Friday. The firm has a 50 day moving average of $66.69 and a two-hundred day moving average of $65.45. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. AAR has a 52 week low of $54.71 and a 52 week high of $76.34. The stock has a market capitalization of $2.05 billion, a PE ratio of 204.08 and a beta of 1.58.

AAR (NYSE:AIR) last released its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business had revenue of $678.20 million during the quarter, compared to analysts’ expectations of $699.13 million. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts predict that AAR will post 3.77 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.