AAR (NYSE:AIR) Raised to “Buy” at Wall Street Zen

AAR (NYSE:AIR) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research firms have also weighed in on AIR. Truist Financial increased their target price on shares of AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada increased their target price on AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, KeyCorp lifted their target price on AAR from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $83.75.

AAR Price Performance

Shares of NYSE:AIR opened at $83.68 on Friday. AAR has a twelve month low of $46.51 and a twelve month high of $86.43. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 253.58 and a beta of 1.44. The stock’s 50 day moving average is $67.49 and its 200-day moving average is $64.12. The company has a quick ratio of 1.39, a current ratio of 2.72 and a debt-to-equity ratio of 0.80.

AAR (NYSE:AIR) last announced its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. AAR had a return on equity of 11.66% and a net margin of 0.45%. The firm had revenue of $754.50 million during the quarter, compared to analyst estimates of $695.81 million. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that AAR will post 3.77 EPS for the current fiscal year.

Institutional Investors Weigh In On AAR

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in AAR by 2.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,847 shares of the aerospace company’s stock worth $910,000 after buying an additional 390 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AAR during the fourth quarter worth approximately $6,849,000. Swiss National Bank raised its stake in AAR by 2.0% in the fourth quarter. Swiss National Bank now owns 70,600 shares of the aerospace company’s stock valued at $4,326,000 after buying an additional 1,400 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of AAR during the 4th quarter worth approximately $200,000. Finally, Intech Investment Management LLC lifted its holdings in shares of AAR by 56.7% in the 4th quarter. Intech Investment Management LLC now owns 23,646 shares of the aerospace company’s stock valued at $1,449,000 after purchasing an additional 8,559 shares during the last quarter. Institutional investors and hedge funds 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.