KeyCorp Cuts AAR (NYSE:AIR) Price Target to $80.00

AAR (NYSE:AIR) had its price objective trimmed by KeyCorp from $83.00 to $80.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the aerospace company’s stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial decreased their price objective on AAR from $81.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, March 28th. StockNews.com downgraded shares of AAR from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.20.

AAR Trading Down 6.5 %

AIR opened at $50.09 on Wednesday. AAR has a 1-year low of $48.80 and a 1-year high of $76.34. The firm has a 50-day moving average price of $65.05 and a two-hundred day moving average price of $65.04. The stock has a market capitalization of $1.81 billion, a PE ratio of 178.90 and a beta of 1.32. 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 quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $678.20 million during the quarter, compared to analysts’ expectations of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. AAR’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, equities analysts anticipate that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AAR

In other news, SVP Christopher A. Jessup sold 33,481 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total transaction of $2,357,062.40. Following the sale, the senior vice president now owns 63,209 shares in the company, valued at $4,449,913.60. This represents a 34.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $70.81, for a total transaction of $354,050.00. Following the completion of the sale, the chief executive officer now owns 341,680 shares of the company’s stock, valued at approximately $24,194,360.80. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,793 shares of company stock valued at $12,538,396. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of hedge funds and other institutional investors have recently bought and sold shares of AIR. National Bank of Canada FI acquired a new stake in shares of AAR during the 3rd quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of AAR in the fourth quarter valued at about $30,000. Virtus Fund Advisers LLC bought a new position in shares of AAR during the fourth quarter worth approximately $36,000. Sterling Capital Management LLC increased its stake in AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock worth $54,000 after acquiring an additional 784 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of AAR by 124.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 561 shares during the period. Institutional investors own 90.74% of the company’s stock.

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.