AAR (NYSE:AIR) Raised to “Buy” at Wall Street Zen

AAR (NYSE:AIR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts have also recently commented on the company. 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. Royal Bank Of Canada increased their target price on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Truist Financial set a $107.00 price objective on shares of AAR in a research note on Friday, January 9th. Finally, KeyCorp boosted their target price on shares of AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.80.

AAR Stock Performance

AIR opened at $116.93 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.31 and a current ratio of 2.84. AAR has a 52-week low of $46.51 and a 52-week high of $118.00. The firm has a market cap of $4.63 billion, a P/E ratio of 45.85 and a beta of 1.23. The business’s fifty day moving average is $99.33 and its 200-day moving average is $86.85.

AAR (NYSE:AIR) last released its earnings results on Tuesday, January 6th. The aerospace company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.02 by $0.16. The firm had revenue of $795.30 million for the quarter, compared to analyst estimates of $760.95 million. AAR had a net margin of 3.17% and a return on equity of 12.40%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Sell-side analysts expect that AAR will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total transaction of $1,084,400.00. Following the completion of the transaction, the chief executive officer directly owned 237,064 shares in the company, valued at $25,707,220.16. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 4,787 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the completion of the sale, the chief accounting officer owned 29,557 shares in the company, valued at $2,815,304.25. The trade was a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 128,984 shares of company stock worth $12,517,090. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On AAR

Several large investors have recently modified their holdings of AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AAR by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after buying an additional 904 shares during the period. Millennium Management LLC lifted its stake 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AAR by 4.6% during 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. R Squared Ltd acquired a new stake in AAR during the second quarter worth approximately $206,000. Finally, Envestnet Asset Management Inc. increased its holdings in AAR by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 126,316 shares of the aerospace company’s stock worth $8,689,000 after purchasing an additional 1,732 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.