AAR (NYSE:AIR) Hits New 12-Month High – Time to Buy?

Shares of AAR Corp. (NYSE:AIR) hit a new 52-week high on Monday . The stock traded as high as $121.64 and last traded at $117.3220, with a volume of 160593 shares traded. The stock had previously closed at $117.17.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIR. KeyCorp increased their price objective on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada raised their price target on AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Jefferies Financial Group boosted their price objective on AAR to $135.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Truist Financial set a $107.00 target price on AAR in a research note on Friday, January 9th. Finally, Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $115.40.

AAR Price Performance

The stock’s 50 day moving average is $104.19 and its two-hundred day moving average is $88.92. The stock has a market capitalization of $4.69 billion, a PE ratio of 46.51 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31.

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

Insiders Place Their Bets

In related news, CEO John Mcclain Holmes III sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 237,064 shares in the company, valued at $25,707,220.16. The trade was a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Louise Flanagan sold 10,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the sale, the chief financial officer owned 32,848 shares of the company’s stock, valued at $3,565,978.88. This represents a 24.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 128,984 shares of company stock worth $12,517,090 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On AAR

Several large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after purchasing an additional 904 shares during the period. Millennium Management LLC raised its holdings in shares of AAR by 35.8% in the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after buying an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after buying an additional 4,288 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of AAR by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 126,316 shares of the aerospace company’s stock worth $8,689,000 after buying an additional 1,732 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of AAR by 4.4% during the second quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock worth $377,000 after buying an additional 231 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

About AAR

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.