Truist Financial Reiterates “Buy” Rating for AAR (NYSE:AIR)

AAR (NYSE:AIR)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a research note issued on Friday,Benzinga reports. They presently have a $128.00 price target on the aerospace company’s stock, up from their prior price target of $107.00. Truist Financial’s target price suggests a potential upside of 18.12% from the company’s previous close.

Several other equities analysts also recently commented on the company. Royal Bank Of Canada upped their price objective on AAR from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. KeyCorp upped their price target on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, The Goldman Sachs Group began coverage on shares of AAR in a report on Monday, January 26th. They set a “neutral” rating and a $121.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.60.

AAR Stock Down 2.1%

Shares of AIR opened at $108.36 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 42.49 and a beta of 1.19. AAR has a 1 year low of $46.51 and a 1 year high of $121.64. The business’s 50 day simple moving average is $105.80 and its 200-day simple moving average is $89.61.

AAR (NYSE:AIR) last posted its earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $795.30 million during the quarter, compared to analyst estimates of $760.95 million. AAR’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Transactions at AAR

In related news, SVP Christopher A. Jessup sold 23,621 shares of AAR stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $97.05, for a total value of $2,292,418.05. Following the completion of the sale, the senior vice president directly owned 65,769 shares in the company, valued at $6,382,881.45. The trade was a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John Mcclain Holmes III sold 30,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,925,000.00. Following the transaction, the chief executive officer owned 237,064 shares in the company, valued at approximately $23,113,740. The trade was a 11.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 128,984 shares of company stock worth $12,517,090. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in AAR by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after buying an additional 281,871 shares in the last quarter. State Street Corp boosted its position in AAR by 17.1% during the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after acquiring an additional 339,595 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of AAR by 17.4% in the 4th quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock valued at $144,498,000 after acquiring an additional 258,577 shares during the period. Invesco Ltd. raised its position in shares of AAR by 4.2% in the 2nd quarter. Invesco Ltd. now owns 1,208,796 shares of the aerospace company’s stock worth $83,153,000 after acquiring an additional 48,376 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of AAR by 36.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after acquiring an additional 311,258 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

About AAR

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.