AAR’s (AIR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of AAR (NYSE:AIR) in a research note released on Monday, Benzinga reports. The brokerage currently has a $75.00 price target on the aerospace company’s stock.

AIR has been the subject of a number of other research reports. Stifel Nicolaus reduced their target price on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a report on Friday, July 19th. Benchmark reissued a “buy” rating and issued a $83.00 price objective on shares of AAR in a research note on Friday, October 4th. Finally, StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

AAR Stock Up 9.8 %

Shares of AAR stock opened at $65.71 on Monday. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. AAR has a 12-month low of $54.71 and a 12-month high of $76.34. The firm has a market capitalization of $2.36 billion, a PE ratio of 36.10 and a beta of 1.57. The stock’s fifty day moving average is $63.89 and its 200-day moving average is $66.73.

AAR (NYSE:AIR) last posted its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that AAR will post 3.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of AAR by 1.7% in the 3rd quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company’s stock valued at $674,000 after buying an additional 177 shares in the last quarter. Global Financial Private Client LLC grew its position in AAR by 4.0% in the second quarter. Global Financial Private Client LLC now owns 5,838 shares of the aerospace company’s stock worth $424,000 after acquiring an additional 225 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of AAR by 43.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 778 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 234 shares during the last quarter. Truist Financial Corp raised its holdings in shares of AAR by 3.4% during the 2nd quarter. Truist Financial Corp now owns 9,040 shares of the aerospace company’s stock valued at $657,000 after purchasing an additional 296 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of AAR by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the aerospace company’s stock valued at $1,214,000 after purchasing an additional 300 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.