AAR (NYSE:AIR) Price Target Raised to $145.00 at Truist Financial

AAR (NYSE:AIR) had its target price boosted by Truist Financial from $128.00 to $145.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the aerospace company’s stock.

A number of other research analysts have also recently commented on the company. KeyCorp restated a “sector weight” rating on shares of AAR in a research note on Wednesday, July 22nd. Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Jefferies Financial Group raised their price objective on AAR from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of AAR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.60.

AAR Price Performance

Shares of NYSE AIR opened at $136.87 on Monday. AAR has a 1 year low of $71.43 and a 1 year high of $146.75. The stock has a market capitalization of $5.46 billion, a P/E ratio of 28.34 and a beta of 1.09. The company’s 50-day moving average is $127.40 and its 200 day moving average is $116.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.84 and a quick ratio of 1.24.

AAR (NYSE:AIR) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.38 by $0.15. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business had revenue of $928.00 million during the quarter, compared to analyst estimates of $893.03 million. During the same period last year, the business posted $1.16 earnings per share. AAR’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts expect that AAR will post 5.91 earnings per share for the current year.

Hedge Funds Weigh In On AAR

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock valued at $336,229,000 after purchasing an additional 281,871 shares in the last quarter. State Street Corp grew its holdings in shares of AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after buying an additional 339,595 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of AAR by 17.4% during the fourth quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock valued at $144,498,000 after buying an additional 258,577 shares during the last quarter. Franklin Resources Inc. increased its position in shares of AAR by 36.9% during the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock valued at $107,752,000 after acquiring an additional 311,258 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of AAR by 7.7% during the fourth quarter. Invesco Ltd. now owns 1,122,792 shares of the aerospace company’s stock valued at $92,956,000 after acquiring an additional 80,265 shares in the last quarter. Institutional investors own 90.74% of the company’s stock.

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.