Benchmark Raises AAR (NYSE:AIR) Price Target to $83.00

AAR (NYSE:AIR) had its target price increased by equities research analysts at Benchmark from $65.00 to $83.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Benchmark’s price objective would suggest a potential upside of 34.50% from the company’s current price.

A number of other equities research analysts also recently issued reports on AIR. Stifel Nicolaus boosted their price objective on shares of AAR from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. William Blair began coverage on AAR in a research note on Monday, January 29th. They issued an “outperform” rating for the company. Truist Financial increased their price target on AAR from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of AAR in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.25.

AAR Stock Up 1.5 %

Shares of AIR stock traded up $0.92 during trading hours on Monday, hitting $61.71. 39,529 shares of the company’s stock traded hands, compared to its average volume of 337,066. The stock’s fifty day simple moving average is $63.33 and its two-hundred day simple moving average is $63.03. AAR has a 12-month low of $50.06 and a 12-month high of $73.95. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 36.36 and a beta of 1.67. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.24.

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

Insiders Place Their Bets

In related news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total transaction of $465,896.24. Following the transaction, the chief accounting officer now directly owns 28,165 shares of the company’s stock, valued at $1,784,816.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the completion of the sale, the chief executive officer now directly owns 303,621 shares in the company, valued at $17,597,873.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total transaction of $465,896.24. Following the sale, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at $1,784,816.05. The disclosure for this sale can be found here. Insiders sold a total of 64,747 shares of company stock valued at $3,858,323 over the last 90 days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On AAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in AAR during the first quarter valued at $26,000. GAMMA Investing LLC purchased a new position in AAR in the fourth quarter valued at $27,000. DekaBank Deutsche Girozentrale purchased a new position in AAR in the third quarter valued at $33,000. Point72 Hong Kong Ltd purchased a new position in AAR in the first quarter valued at $44,000. Finally, Point72 Asset Management L.P. purchased a new position in AAR in the second quarter valued at $52,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.

About AAR

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.