AAR (NYSE:AIR) Price Target Raised to $85.00

AAR (NYSE:AIR) had its price objective raised by Royal Bank Of Canada from $75.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

Several other equities analysts have also issued reports on the company. Wall Street Zen raised AAR from a “sell” rating to a “hold” rating in a research note on Saturday, April 19th. Truist Financial upped their price target on AAR from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, KeyCorp upped their target price on AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AAR has a consensus rating of “Buy” and a consensus target price of $83.75.

AAR Trading Down 1.7%

Shares of NYSE AIR opened at $83.68 on Thursday. The company’s 50 day simple moving average is $67.49 and its 200 day simple moving average is $64.12. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.39. The firm has a market capitalization of $3.02 billion, a P/E ratio of 253.58 and a beta of 1.44. AAR has a fifty-two week low of $46.51 and a fifty-two week high of $86.43.

AAR (NYSE:AIR) last announced its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. AAR had a net margin of 0.45% and a return on equity of 11.66%. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts predict that AAR will post 3.77 EPS for the current year.

Institutional Investors Weigh In On AAR

Several large investors have recently bought and sold shares of AIR. Westwood Holdings Group Inc. boosted its position in shares of AAR by 10.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock worth $88,986,000 after purchasing an additional 148,166 shares during the period. Fred Alger Management LLC boosted its position in shares of AAR by 32.6% during the first quarter. Fred Alger Management LLC now owns 533,770 shares of the aerospace company’s stock valued at $29,886,000 after buying an additional 131,092 shares during the period. Bank of America Corp DE boosted its position in AAR by 293.3% in the 4th quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock valued at $10,491,000 after buying an additional 127,668 shares during the period. Invesco Ltd. grew its position in shares of AAR by 13.5% during the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock worth $65,607,000 after buying an additional 127,148 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of AAR in the 4th quarter valued at $6,849,000. 90.74% of the stock is currently owned by institutional investors.

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.