AAR (NYSE:AIR) Reaches New 1-Year High – Here’s Why

AAR Corp. (NYSE:AIR)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $118.00 and last traded at $118.45, with a volume of 53456 shares trading hands. The stock had previously closed at $116.69.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on AAR to $135.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial set a $107.00 price objective on shares of AAR in a report on Friday, January 9th. Royal Bank Of Canada boosted their target price on shares of AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.40.

AAR Trading Up 1.2%

The company has a market cap of $4.69 billion, a P/E ratio of 46.46 and a beta of 1.23. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $101.47 and its 200-day moving average price is $87.68.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. AAR had a net margin of 3.17% and a return on equity of 12.40%. The business had revenue of $795.30 million during the quarter, compared to analyst estimates of $760.95 million. During the same period in the previous year, the business earned $0.90 EPS. AAR’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total transaction of $1,084,400.00. Following the sale, the chief executive officer directly owned 237,064 shares in the company, valued at approximately $25,707,220.16. The trade was a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the completion of the transaction, the chief accounting officer owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. This represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 128,984 shares of company stock valued at $12,517,090. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently added to or reduced their stakes in AIR. McMillan Office Inc. bought a new stake in shares of AAR during the 4th quarter valued at about $25,000. Osterweis Capital Management Inc. purchased a new stake in AAR in the second quarter valued at approximately $26,000. Morse Asset Management Inc bought a new stake in AAR during the third quarter valued at approximately $27,000. NBC Securities Inc. purchased a new position in AAR in the 4th quarter worth approximately $28,000. Finally, Danske Bank A S bought a new position in shares of AAR in the 4th quarter worth $28,000. 90.74% of the stock is currently owned by institutional investors.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.