AAR (NYSE:AIR) Price Target Raised to $83.00

AAR (NYSE:AIR) had its price objective lifted by Benchmark from $65.00 to $83.00 in a research report report published on Monday morning, Benzinga reports. Benchmark currently has a buy rating on the aerospace company’s stock.

Several other research analysts have also commented on AIR. Stifel Nicolaus raised their price objective on AAR from $80.00 to $81.00 and gave the company a buy rating in a research report on Friday, December 22nd. William Blair assumed coverage on AAR in a research report on Monday, January 29th. They issued an outperform rating on the stock. Royal Bank of Canada reissued an outperform rating and issued a $80.00 price objective on shares of AAR in a research report on Friday, March 22nd. Finally, Truist Financial raised their price objective on AAR from $68.00 to $81.00 and gave the company a buy rating in a research report on Friday, December 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $81.25.

AAR Trading Up 1.2 %

Shares of AIR opened at $61.86 on Monday. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.19 billion, a P/E ratio of 36.39 and a beta of 1.67. The stock’s fifty day simple moving average is $63.38 and its 200 day simple moving average is $63.04. AAR has a twelve month low of $50.06 and a twelve month high of $73.95.

AAR (NYSE:AIR) last issued its earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. AAR had a return on equity of 10.17% and a net margin of 2.73%. On average, equities research analysts forecast that AAR will post 3.3 earnings per share for the current year.

Insider Transactions at AAR

In other news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the sale, the chief executive officer now directly owns 303,621 shares of the company’s stock, valued at $17,597,873.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,165 shares in the company, valued at $1,784,816.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the completion of the transaction, the chief executive officer now owns 303,621 shares of the company’s stock, valued at $17,597,873.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,747 shares of company stock valued at $3,858,323. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AAR

A number of hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new position in AAR in the first quarter worth about $338,000. New England Research & Management Inc. grew its stake in AAR by 59.2% in the first quarter. New England Research & Management Inc. now owns 27,300 shares of the aerospace company’s stock worth $1,634,000 after purchasing an additional 10,150 shares in the last quarter. Campbell Capital Management Inc. acquired a new position in AAR in the first quarter worth about $1,796,000. Quadrature Capital Ltd grew its stake in AAR by 77.3% in the fourth quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock worth $1,870,000 after purchasing an additional 13,075 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in AAR by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after acquiring an additional 44,948 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.