AAR (NYSE:AIR) Downgraded by Wall Street Zen to Hold

AAR (NYSE:AIR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the stock. Truist Financial increased their price objective on shares of AAR from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Royal Bank Of Canada increased their price target on shares of AAR from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Finally, KeyCorp lifted their price target on AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $83.75.

AAR Stock Performance

NYSE AIR opened at $75.36 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 1.26. AAR has a 1-year low of $46.51 and a 1-year high of $86.43. The business has a 50 day simple moving average of $75.75 and a two-hundred day simple moving average of $66.85. The stock has a market capitalization of $2.71 billion, a PE ratio of 228.36 and a beta of 1.50.

AAR (NYSE:AIR) last issued its quarterly earnings data on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $754.50 million for the quarter, compared to analysts’ expectations of $695.81 million. During the same period in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that AAR will post 3.77 EPS for the current fiscal year.

Insider Activity

In other AAR news, Director Jennifer L. Vogel sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total value of $546,490.00. Following the completion of the sale, the director owned 22,970 shares of the company’s stock, valued at $1,793,267.90. This trade represents a 23.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Mcclain Holmes III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $71.70, for a total value of $717,000.00. Following the transaction, the chief executive officer directly owned 298,603 shares in the company, valued at approximately $21,409,835.10. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,182 shares of company stock valued at $7,331,452. Company insiders own 3.60% of the company’s stock.

Institutional Trading of AAR

A number of large investors have recently made changes to their positions in AIR. Osterweis Capital Management Inc. purchased a new position in AAR in the 2nd quarter worth about $26,000. Putney Financial Group LLC bought a new position in AAR in the 4th quarter worth about $30,000. Hughes Financial Services LLC bought a new position in AAR in the first quarter worth approximately $28,000. Virtus Advisers LLC purchased a new position in AAR during the 1st quarter worth $47,000. Finally, GAMMA Investing LLC raised its position in AAR by 88.5% during the 1st quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 531 shares in the last quarter. 90.74% of the stock is owned by hedge funds and other 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.