Truist Financial Lowers AAR (NYSE:AIR) Price Target to $78.00

AAR (NYSE:AIR) had its price objective cut by equities researchers at Truist Financial from $81.00 to $78.00 in a report issued on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price would indicate a potential upside of 36.51% from the stock’s current price.

Several other analysts have also issued reports on AIR. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. KeyCorp initiated coverage on AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AAR has an average rating of “Moderate Buy” and an average price target of $80.80.

AAR Trading Down 16.4 %

Shares of AAR stock opened at $57.14 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of 204.08 and a beta of 1.58. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. AAR has a 12-month low of $54.71 and a 12-month high of $76.34. The business’s 50 day moving average is $66.69 and its 200-day moving average is $65.44.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts predict that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jessica A. Garascia sold 1,500 shares of AAR stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.90, for a total value of $100,350.00. Following the completion of the sale, the chief accounting officer now directly owns 37,565 shares in the company, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean M. Gillen sold 17,385 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the completion of the sale, the chief financial officer now owns 72,326 shares of the company’s stock, valued at approximately $4,797,383.58. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,793 shares of company stock valued at $12,538,396. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On AAR

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in AAR by 293.3% in the fourth quarter. Bank of America Corp DE now owns 171,203 shares of the aerospace company’s stock valued at $10,491,000 after purchasing an additional 127,668 shares in the last quarter. Invesco Ltd. increased its holdings in AAR by 13.5% in the 4th quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock valued at $65,607,000 after buying an additional 127,148 shares during the period. Westwood Holdings Group Inc. raised its position in shares of AAR by 8.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company’s stock valued at $88,314,000 after buying an additional 115,476 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of AAR by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock worth $59,591,000 after acquiring an additional 114,460 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of AAR during the 4th quarter worth approximately $6,849,000. 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.