AAR (NYSE:AIR) Price Target Raised to $83.00

AAR (NYSE:AIR) had its target price increased by Benchmark from $65.00 to $83.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

AIR has been the topic of a number of other research reports. William Blair initiated coverage on AAR in a research note on Monday, January 29th. They issued an outperform rating on the stock. Stifel Nicolaus increased their price target on AAR from $80.00 to $81.00 and gave the stock a buy rating in a research report on Friday, December 22nd. 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. Finally, Truist Financial increased their price target on AAR from $68.00 to $81.00 and gave the stock a buy rating in a research report on Friday, December 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $81.25.

AAR Stock Up 1.2 %

Shares of AIR opened at $61.86 on Monday. AAR has a 52 week low of $50.06 and a 52 week high of $73.95. 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 company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 36.39 and a beta of 1.67. The stock’s 50-day moving average price is $63.38 and its 200-day moving average price is $63.04.

AAR (NYSE:AIR) last issued its earnings results on Thursday, March 21st. The aerospace company reported $0.85 EPS for the quarter, topping 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%. On average, sell-side analysts predict that AAR will post 3.3 EPS for the current year.

Insider Activity

In other news, CAO Jessica A. Garascia sold 7,352 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 28,165 shares in the company, valued at $1,784,816.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO John Mcclain Holmes III sold 28,145 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the completion of the sale, the chief executive officer now owns 303,621 shares of the company’s stock, valued at $17,597,873.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 7,352 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the sale, the chief accounting officer now directly owns 28,165 shares of the company’s stock, valued at approximately $1,784,816.05. The disclosure for this sale can be found here. Insiders have sold a total of 64,747 shares of company stock worth $3,858,323 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AAR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in AAR by 36.9% during the third quarter. First Eagle Investment Management LLC now owns 190,928 shares of the aerospace company’s stock worth $11,366,000 after acquiring an additional 51,438 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in AAR by 11.7% during the third quarter. Loomis Sayles & Co. L P now owns 680,241 shares of the aerospace company’s stock worth $40,494,000 after acquiring an additional 71,272 shares during the last quarter. Gotham Asset Management LLC increased its stake in AAR by 20.4% during the third quarter. Gotham Asset Management LLC now owns 5,867 shares of the aerospace company’s stock worth $349,000 after acquiring an additional 996 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in AAR during the third quarter worth $1,190,000. Finally, Qube Research & Technologies Ltd increased its stake in AAR by 39.0% during the third quarter. Qube Research & Technologies Ltd now owns 40,800 shares of the aerospace company’s stock worth $2,429,000 after acquiring an additional 11,445 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

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.