Truist Financial Issues Positive Forecast for AAR (NYSE:AIR) Stock Price

AAR (NYSE:AIR) had its price objective hoisted by equities research analysts at Truist Financial from $128.00 to $145.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective indicates a potential upside of 7.26% from the stock’s previous close.

AIR has been the topic of a number of other reports. Wall Street Zen downgraded AAR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. KeyCorp restated a “sector weight” rating on shares of AAR in a report on Wednesday. Jefferies Financial Group lifted their price objective on AAR from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Finally, Zacks Research upgraded AAR from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.60.

AAR Price Performance

NYSE AIR traded up $6.14 on Monday, reaching $135.19. The company had a trading volume of 40,389 shares, compared to its average volume of 483,592. The company has a quick ratio of 1.24, a current ratio of 2.84 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.39 billion, a PE ratio of 27.99 and a beta of 1.09. The firm’s 50 day moving average price is $126.74 and its 200 day moving average price is $116.24. AAR has a 12 month low of $71.43 and a 12 month high of $146.75.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.38 by $0.15. The business had revenue of $928.00 million during the quarter, compared to the consensus estimate of $893.03 million. AAR had a net margin of 5.67% and a return on equity of 12.67%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities analysts predict that AAR will post 5.91 earnings per share for the current year.

Institutional Investors Weigh In On AAR

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. boosted its stake in shares of AAR by 8.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 46,194 shares of the aerospace company’s stock valued at $6,603,000 after purchasing an additional 3,583 shares during the period. GAMMA Investing LLC increased its stake in AAR by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,151 shares of the aerospace company’s stock worth $165,000 after buying an additional 354 shares during the period. Central Pacific Bank Trust Division increased its stake in AAR by 7.3% in the 2nd quarter. Central Pacific Bank Trust Division now owns 9,137 shares of the aerospace company’s stock worth $1,306,000 after buying an additional 625 shares during the period. Optiver Holding B.V. lifted its holdings in AAR by 218.6% during the 1st quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company’s stock valued at $30,000 after buying an additional 188 shares in the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in AAR during the 1st quarter valued at about $301,000. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

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.