Benchmark Raises AAR (NYSE:AIR) Price Target to $83.00

AAR (NYSE:AIR) had its target price upped by Benchmark from $65.00 to $83.00 in a report issued on Monday, Benzinga reports. Benchmark currently has a buy rating on the aerospace company’s stock.

Other research analysts have also issued research reports about the company. William Blair initiated coverage on AAR in a report on Monday, January 29th. They issued an outperform rating on the stock. Royal Bank of Canada reiterated an outperform rating and set a $80.00 price target on shares of AAR in a report on Friday, March 22nd. Stifel Nicolaus lifted their price target on AAR from $80.00 to $81.00 and gave the stock a buy rating in a report on Friday, December 22nd. Finally, Truist Financial lifted their price target on AAR from $68.00 to $81.00 and gave the stock a buy rating in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $81.25.

AAR Price Performance

AAR stock opened at $60.71 on Monday. The company’s fifty day moving average price is $63.35 and its 200 day moving average price is $63.04. AAR has a 1 year low of $50.06 and a 1 year high of $73.95. The stock has a market capitalization of $2.15 billion, a P/E ratio of 35.71 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90.

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

Insider Activity at AAR

In related news, CAO Jessica A. Garascia sold 7,352 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at approximately $1,784,816.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Jessica A. Garascia sold 7,352 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at approximately $1,784,816.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 28,145 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the sale, the chief executive officer now owns 303,621 shares in the company, valued at $17,597,873.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,747 shares of company stock worth $3,858,323. Company insiders own 4.30% of the company’s stock.

Institutional Trading of AAR

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of AAR during the fourth quarter worth approximately $27,000. Quantbot Technologies LP purchased a new position in AAR in the first quarter valued at approximately $26,000. DekaBank Deutsche Girozentrale purchased a new position in AAR in the third quarter valued at approximately $33,000. Point72 Asset Management L.P. purchased a new position in AAR in the second quarter valued at approximately $52,000. Finally, Point72 Hong Kong Ltd purchased a new position in AAR in the first quarter valued at approximately $44,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Company Profile

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.