Analysts Set AAR Corp. (NYSE:AIR) Price Target at $83.50

AAR Corp. (NYSE:AIR) has received an average rating of “Buy” from the five brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $83.50.

Several research firms have issued reports on AIR. Royal Bank of Canada upped their price target on shares of AAR from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus decreased their price target on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, July 19th.

AAR Stock Performance

NYSE:AIR opened at $67.23 on Tuesday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 39.55 and a beta of 1.55. The business has a 50 day moving average of $65.58 and a 200 day moving average of $66.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. AAR has a 1-year low of $54.71 and a 1-year high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. AAR had a net margin of 2.00% and a return on equity of 10.16%. The firm had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. During the same period in the previous year, the business posted $0.83 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts predict that AAR will post 3.74 earnings per share for the current fiscal year.

Institutional Trading of AAR

A number of institutional investors have recently modified their holdings of AIR. Truist Financial Corp raised its position in AAR by 3.4% during the 2nd quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock valued at $657,000 after purchasing an additional 296 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of AAR by 31.3% during the second quarter. Susquehanna Fundamental Investments LLC now owns 11,931 shares of the aerospace company’s stock valued at $867,000 after buying an additional 2,841 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of AAR by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the aerospace company’s stock valued at $1,414,000 after acquiring an additional 958 shares in the last quarter. Millennium Management LLC lifted its stake in AAR by 37.4% in the second quarter. Millennium Management LLC now owns 310,144 shares of the aerospace company’s stock worth $22,547,000 after acquiring an additional 84,459 shares during the period. Finally, Earnest Partners LLC boosted its holdings in AAR by 3.2% in the second quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock valued at $115,513,000 after acquiring an additional 48,630 shares in the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.