AAR (NYSE:AIR) Price Target Raised to $86.00

AAR (NYSE:AIR) had its price objective increased by KeyCorp from $80.00 to $86.00 in a research note published on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the aerospace company’s stock.

A number of other brokerages have also recently issued reports on AIR. Wall Street Zen upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Saturday, April 19th. Truist Financial increased their price objective on shares of AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $83.75.

AAR Trading Down 1.7%

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

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

Institutional Investors Weigh In On AAR

A number of hedge funds have recently added to or reduced their stakes in AIR. Putney Financial Group LLC bought a new stake in AAR during the fourth quarter worth approximately $30,000. Hughes Financial Services LLC purchased a new stake in AAR in the 1st quarter worth about $28,000. Virtus Fund Advisers LLC purchased a new stake in shares of AAR in the fourth quarter worth approximately $36,000. Virtus Advisers LLC acquired a new stake in shares of AAR during the 1st quarter valued at $47,000. Finally, Sterling Capital Management LLC boosted its position in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 784 shares during the last quarter. 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.