Benchmark Increases AAR (NYSE:AIR) Price Target to $83.00

AAR (NYSE:AIR) had its price target raised by Benchmark from $65.00 to $83.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

A number of other research firms also recently issued reports on AIR. William Blair started coverage on shares of AAR in a research report on Monday, January 29th. They set an outperform rating for the company. Royal Bank of Canada reiterated an outperform rating and set a $80.00 price target on shares of AAR in a research report on Friday, March 22nd. Truist Financial lifted their price target on shares of AAR from $68.00 to $81.00 and gave the company a buy rating in a research report on Friday, December 22nd. Finally, Stifel Nicolaus lifted their price target on shares of AAR from $80.00 to $81.00 and gave the company a buy rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $81.25.

AAR Price Performance

Shares of AIR opened at $63.07 on Monday. AAR has a twelve month low of $50.06 and a twelve month high of $73.95. The stock’s 50 day moving average is $63.41 and its two-hundred day moving average is $63.04. The firm has a market capitalization of $2.23 billion, a PE ratio of 37.10 and a beta of 1.67. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24.

AAR (NYSE:AIR) last announced its quarterly earnings data on Thursday, March 21st. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. AAR had a return on equity of 10.17% and a net margin of 2.73%. Research analysts anticipate that AAR will post 3.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total transaction of $465,896.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,165 shares in the company, valued at approximately $1,784,816.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AAR news, CAO Jessica A. Garascia sold 7,352 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,165 shares in the company, valued at approximately $1,784,816.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Mcclain Holmes III sold 29,250 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $60.21, for a total value of $1,761,142.50. Following the completion of the transaction, the chief executive officer now owns 303,621 shares of the company’s stock, valued at $18,281,020.41. The disclosure for this sale can be found here. Insiders sold 64,747 shares of company stock worth $3,858,323 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in AAR by 889.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock valued at $23,414,000 after acquiring an additional 351,540 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of AAR during the 1st quarter valued at $338,000. New England Research & Management Inc. grew its stake in shares of AAR by 59.2% during the 1st quarter. New England Research & Management Inc. now owns 27,300 shares of the aerospace company’s stock valued at $1,634,000 after buying an additional 10,150 shares during the period. Campbell Capital Management Inc. purchased a new stake in shares of AAR during the 1st quarter valued at $1,796,000. Finally, Quadrature Capital Ltd grew its stake in shares of AAR by 77.3% during the 4th quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock valued at $1,870,000 after buying an additional 13,075 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.