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

AAR Corp. (NYSE:AIR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $127.39 and last traded at $127.3540, with a volume of 320171 shares trading hands. The stock had previously closed at $117.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIR. Wall Street Zen raised AAR from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Royal Bank Of Canada raised their target price on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Truist Financial raised AAR to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group raised their target price on AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One investment 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. According to data from MarketBeat, AAR has a consensus rating of “Moderate Buy” and a consensus price target of $131.20.

AAR Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. The company has a market cap of $5.12 billion, a P/E ratio of 28.58 and a beta of 1.13. The firm has a 50 day moving average price of $114.25 and a two-hundred day moving average price of $105.00.

AAR (NYSE:AIR) last posted its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $845.10 million during the quarter, compared to the consensus estimate of $812.58 million. AAR had a return on equity of 12.39% and a net margin of 5.46%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. On average, analysts predict that AAR Corp. will post 4.97 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 60,000 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $112.41, for a total transaction of $6,744,600.00. Following the completion of the transaction, the chief executive officer owned 235,064 shares in the company, valued at approximately $26,423,544.24. This represents a 20.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of AAR during the 1st quarter worth $25,000. McMillan Office Inc. bought a new position in AAR in the 4th quarter worth about $25,000. Osterweis Capital Management Inc. bought a new position in AAR in the 2nd quarter worth about $26,000. Morse Asset Management Inc bought a new position in AAR in the 3rd quarter worth about $27,000. Finally, NBC Securities Inc. bought a new position in AAR in the 4th quarter worth about $28,000. Institutional investors own 90.74% of the company’s stock.

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.