Truist Financial Forecasts Strong Price Appreciation for AAR (NYSE:AIR) Stock

AAR (NYSE:AIR) had its target price hoisted by equities researchers at Truist Financial from $78.00 to $81.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price suggests a potential upside of 8.59% from the company’s previous close.

Several other brokerages also recently issued reports on AIR. Wall Street Zen upgraded shares of AAR from a “sell” rating to a “hold” rating in a research note on Saturday, April 19th. KeyCorp dropped their target price on shares of AAR from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.80.

AAR Trading Up 0.1%

NYSE:AIR opened at $74.59 on Friday. AAR has a one year low of $46.51 and a one year high of $76.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39. The company’s 50-day simple moving average is $65.54 and its 200 day simple moving average is $63.52. The firm has a market capitalization of $2.69 billion, a P/E ratio of -207.19 and a beta of 1.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in AAR by 2.1% during the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 219 shares during the period. US Bancorp DE lifted its position in AAR by 3.8% during the fourth quarter. US Bancorp DE now owns 6,118 shares of the aerospace company’s stock valued at $375,000 after purchasing an additional 225 shares during the period. Summit Investment Advisors Inc. lifted its position in AAR by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company’s stock valued at $224,000 after purchasing an additional 226 shares during the period. Tower Research Capital LLC TRC lifted its position in AAR by 11.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company’s stock valued at $143,000 after purchasing an additional 246 shares during the period. Finally, Sheets Smith Wealth Management lifted its position in AAR by 3.8% during the first quarter. Sheets Smith Wealth Management now owns 7,281 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 266 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.