AAR (NYSE:AIR) Reaches New 12-Month High – Here’s What Happened

AAR Corp. (NYSE:AIR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $89.70 and last traded at $88.7320, with a volume of 607599 shares traded. The stock had previously closed at $88.02.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. KeyCorp lifted their target price on shares of AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Royal Bank Of Canada upped their target price on AAR from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Jefferies Financial Group initiated coverage on AAR in a report on Wednesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Truist Financial boosted their price target on AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.25.

AAR Trading Up 0.8%

The company has a current ratio of 2.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 113.67 and a beta of 1.24. The business has a 50 day simple moving average of $82.81 and a 200-day simple moving average of $78.99.

AAR (NYSE:AIR) last announced its quarterly earnings data on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. The business had revenue of $553.30 million for the quarter. On average, equities analysts predict that AAR Corp. will post 3.77 earnings per share for the current year.

Insider Activity at AAR

In related news, CEO John Mcclain Holmes III sold 38,462 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total value of $3,211,577.00. Following the transaction, the chief executive officer directly owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. This trade represents a 12.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently owned by insiders.

Institutional Trading of AAR

Several large investors have recently added to or reduced their stakes in AIR. Wellington Management Group LLP grew its stake in shares of AAR by 144.3% in the third quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after buying an additional 878,188 shares in the last quarter. UBS Group AG boosted its holdings in AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock worth $43,780,000 after acquiring an additional 427,906 shares during the period. Franklin Resources Inc. grew its position in AAR by 36.9% in 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. State Street Corp raised its stake in shares of AAR by 10.9% during the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after purchasing an additional 188,406 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of AAR by 35.2% during the third quarter. Principal Financial Group Inc. now owns 640,707 shares of the aerospace company’s stock worth $57,452,000 after purchasing an additional 166,903 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.