AAR (NYSE:AIR) Price Target Raised to $83.00

AAR (NYSE:AIR) had its target price raised by research analysts at Benchmark from $65.00 to $83.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Benchmark’s price objective would suggest a potential upside of 34.50% from the stock’s current price.

AIR has been the subject of a number of other reports. Truist Financial boosted their price objective on shares of AAR from $68.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. William Blair began coverage on shares of AAR in a research note on Monday, January 29th. They issued an “outperform” rating on the stock. Stifel Nicolaus increased their price objective on shares of AAR from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of AAR in a report on Friday, March 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AAR has an average rating of “Moderate Buy” and a consensus price target of $81.25.

AAR Stock Performance

AIR traded up $0.92 during trading on Monday, hitting $61.71. The company’s stock had a trading volume of 39,529 shares, compared to its average volume of 337,066. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.24. AAR has a one year low of $50.06 and a one year high of $73.95. The firm has a market cap of $2.19 billion, a PE ratio of 36.36 and a beta of 1.67. The business’s 50 day simple moving average is $63.33 and its 200-day simple moving average is $63.03.

AAR (NYSE:AIR) last announced its quarterly earnings data on Thursday, March 21st. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. AAR had a net margin of 2.73% and a return on equity of 10.17%. As a group, sell-side analysts predict that AAR will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CAO Jessica A. Garascia sold 7,352 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the transaction, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at $1,784,816.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO John Mcclain Holmes III sold 29,250 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $60.21, for a total transaction of $1,761,142.50. Following the completion of the sale, the chief executive officer now owns 303,621 shares in the company, valued at approximately $18,281,020.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jessica A. Garascia sold 7,352 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total transaction of $465,896.24. Following the sale, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at approximately $1,784,816.05. The disclosure for this sale can be found here. Insiders sold a total of 64,747 shares of company stock worth $3,858,323 over the last three months. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in AAR by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 417,741 shares of the aerospace company’s stock valued at $20,231,000 after buying an additional 19,617 shares during the period. Bank of Montreal Can boosted its position in shares of AAR by 8.0% during the 1st quarter. Bank of Montreal Can now owns 18,177 shares of the aerospace company’s stock worth $890,000 after purchasing an additional 1,345 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of AAR by 56.7% in the 1st quarter. MetLife Investment Management LLC now owns 18,230 shares of the aerospace company’s stock worth $883,000 after buying an additional 6,595 shares in the last quarter. Rhumbline Advisers boosted its position in shares of AAR by 4.6% in the 1st quarter. Rhumbline Advisers now owns 110,106 shares of the aerospace company’s stock worth $5,332,000 after buying an additional 4,874 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of AAR by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,743 shares of the aerospace company’s stock worth $1,392,000 after buying an additional 3,542 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. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.