The Goldman Sachs Group Initiates Coverage on AAR (NYSE:AIR)

Analysts at The Goldman Sachs Group assumed coverage on shares of AAR (NYSE:AIR) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “neutral” rating and a $121.00 price target on the aerospace company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 14.59% from the company’s previous close.

Several other analysts have also recently weighed in on AIR. Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. KeyCorp upped their price objective on shares of AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial set a $107.00 price target on shares of AAR in a research report on Friday, January 9th. Finally, Jefferies Financial Group set a $112.00 price target on AAR and gave the stock a “buy” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.80.

AAR Price Performance

AIR stock opened at $105.60 on Monday. The company’s 50-day moving average price is $88.69 and its two-hundred day moving average price is $82.47. The firm has a market cap of $4.18 billion, a P/E ratio of 41.41 and a beta of 1.24. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. AAR has a 12 month low of $46.51 and a 12 month high of $107.82.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.16. AAR had a return on equity of 12.40% and a net margin of 3.17%.The business had revenue of $795.30 million during the quarter, compared to the consensus estimate of $760.95 million. During the same period in the prior year, the company earned $0.90 EPS. AAR’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts anticipate that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 9,947 shares of AAR stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $99.41, for a total value of $988,831.27. Following the completion of the sale, the chief executive officer owned 237,064 shares of the company’s stock, valued at approximately $23,566,532.24. This trade represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jessica A. Garascia sold 4,787 shares of AAR stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total transaction of $455,961.75. Following the completion of the transaction, the chief accounting officer owned 29,557 shares of the company’s stock, valued at $2,815,304.25. The trade was a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 146,696 shares of company stock worth $13,477,247. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AAR

Institutional investors and hedge funds have recently modified their holdings of the company. Osterweis Capital Management Inc. purchased a new stake in AAR in the second quarter valued at approximately $26,000. Morse Asset Management Inc bought a new position in shares of AAR in the 3rd quarter worth $27,000. Salomon & Ludwin LLC purchased a new stake in shares of AAR during the 3rd quarter valued at $30,000. Optiver Holding B.V. bought a new stake in shares of AAR during the 3rd quarter worth $31,000. Finally, Westfuller Advisors LLC purchased a new position in AAR in the third quarter worth $39,000. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Company Profile

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.