AAR (NYSE:AIR) Upgraded by The Goldman Sachs Group to “Hold” Rating

The Goldman Sachs Group upgraded shares of AAR (NYSE:AIR) to a hold rating in a report released on Monday, Marketbeat reports.

Several other brokerages have also recently issued reports on AIR. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Jefferies Financial Group set a $112.00 price target on AAR and gave the stock a “buy” rating in a report on Thursday, January 15th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Finally, Truist Financial set a $107.00 price objective on shares of AAR in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $110.80.

AAR Stock Down 1.3%

Shares of AIR opened at $104.32 on Monday. The stock has a 50 day moving average price of $88.13 and a 200 day moving average price of $82.25. AAR has a one year low of $46.51 and a one year high of $107.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 40.91 and a beta of 1.24.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. AAR had a return on equity of 12.40% and a net margin of 3.17%.The company had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. During the same quarter last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts forecast that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Activity at AAR

In other news, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the sale, the chief accounting officer directly owned 29,557 shares in the company, valued at approximately $2,815,304.25. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of AAR stock in a transaction on Friday, January 9th. The shares were sold at an average price of $97.05, for a total value of $2,292,418.05. Following the completion of the transaction, the senior vice president owned 65,769 shares of the company’s stock, valued at approximately $6,382,881.45. This trade represents a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,696 shares of company stock worth $13,477,247. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On AAR

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after buying an additional 904 shares in the last quarter. Millennium Management LLC increased its position in shares of AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after purchasing an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after purchasing an additional 4,288 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of AAR by 7.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,584 shares of the aerospace company’s stock worth $2,723,000 after purchasing an additional 2,804 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of AAR by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 21,090 shares of the aerospace company’s stock worth $1,449,000 after purchasing an additional 1,542 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

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.