KeyCorp Raises AAR (NYSE:AIR) Price Target to $132.00

AAR (NYSE:AIR) had its target price lifted by stock analysts at KeyCorp from $120.00 to $132.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has an “overweight” rating on the aerospace company’s stock. KeyCorp’s price objective points to a potential upside of 9.24% from the company’s previous close.

A number of other equities analysts have also recently commented on AIR. Truist Financial reissued a “buy” rating and issued a $128.00 price objective (up from $107.00) on shares of AAR in a research note on Friday, March 6th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research cut shares of AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Royal Bank Of Canada lifted their price objective on shares of AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings raised shares of AAR from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.20.

AAR Stock Performance

NYSE AIR opened at $120.84 on Thursday. The stock has a market capitalization of $4.81 billion, a PE ratio of 26.79 and a beta of 1.20. The business has a 50 day simple moving average of $111.94 and a two-hundred day simple moving average of $95.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.70 and a quick ratio of 1.23. AAR has a 1-year low of $50.28 and a 1-year high of $124.56.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. The business had revenue of $845.10 million during the quarter, compared to analysts’ expectations of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, research analysts predict that AAR will post 3.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sarah Louise Flanagan sold 10,750 shares of AAR stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $108.56, for a total transaction of $1,167,020.00. Following the completion of the transaction, the chief financial officer directly owned 32,848 shares of the company’s stock, valued at approximately $3,565,978.88. The trade was a 24.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Mcclain Holmes III sold 60,000 shares of AAR stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the transaction, the chief executive officer directly owned 235,064 shares of the company’s stock, valued at approximately $26,423,544.24. This represents a 20.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 163,674 shares of company stock valued at $17,388,503 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of large investors have recently made changes to their positions in AIR. Wellington Management Group LLP boosted its stake in shares of AAR by 144.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after purchasing an additional 878,188 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of AAR by 297.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock worth $49,233,000 after purchasing an additional 445,026 shares during the period. UBS Group AG boosted its stake in shares of AAR by 709.2% during the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after purchasing an additional 427,906 shares during the period. State Street Corp boosted its stake in shares of AAR by 17.1% during the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after purchasing an additional 311,258 shares during the period. 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.