AAR (NYSE:AIR) Price Target Raised to $85.00

AAR (NYSE:AIR) had its price objective increased by Royal Bank of Canada from $80.00 to $85.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the aerospace company’s stock.

Several other equities analysts have also recently issued reports on the stock. Benchmark boosted their price objective on shares of AAR from $65.00 to $83.00 and gave the company a buy rating in a research note on Monday, April 15th. Stifel Nicolaus lowered their target price on shares of AAR from $86.00 to $85.00 and set a buy rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $83.50.

AAR Stock Performance

Shares of AIR stock opened at $64.42 on Friday. The stock’s 50-day moving average price is $70.74 and its 200 day moving average price is $65.91. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.28 billion, a PE ratio of 37.89 and a beta of 1.54. AAR has a 52-week low of $55.00 and a 52-week high of $76.34.

AAR (NYSE:AIR) last announced its earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. AAR had a return on equity of 10.25% and a net margin of 2.00%. The company had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. During the same period last year, the business posted $0.83 EPS. The company’s revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that AAR will post 4.1 EPS for the current year.

Insider Activity at AAR

In other AAR news, CAO Eric Pachapa sold 5,121 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $70.96, for a total value of $363,386.16. Following the completion of the transaction, the chief accounting officer now owns 25,015 shares in the company, valued at $1,775,064.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Eric Pachapa sold 5,121 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $70.96, for a total transaction of $363,386.16. Following the sale, the chief accounting officer now owns 25,015 shares of the company’s stock, valued at $1,775,064.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher A. Jessup sold 15,929 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $70.09, for a total transaction of $1,116,463.61. Following the completion of the transaction, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at $3,630,872.27. The disclosure for this sale can be found here. Insiders have sold a total of 36,023 shares of company stock worth $2,528,708 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AAR

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of AAR in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC grew its stake in AAR by 283.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 402 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in AAR in the 1st quarter valued at about $63,000. Psagot Value Holdings Ltd. Israel increased its holdings in AAR by 737.1% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,105 shares of the aerospace company’s stock valued at $69,000 after acquiring an additional 973 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in AAR by 124.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,251 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 694 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

About AAR

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.