AAR (NYSE:AIR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of AAR (NYSE:AIR) from a buy rating to a hold rating in a research report report published on Saturday.

Other analysts have also issued reports about the company. KeyCorp boosted their price objective on AAR from $86.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Jefferies Financial Group started coverage on shares of AAR in a report on Wednesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of AAR in a report on Monday, December 15th. Finally, Truist Financial boosted their price target on shares of AAR from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.25.

AAR Stock Up 4.2%

Shares of NYSE:AIR opened at $86.18 on Friday. The firm has a market cap of $3.37 billion, a P/E ratio of 110.49 and a beta of 1.29. AAR has a 52-week low of $46.51 and a 52-week high of $89.69. The business’s 50 day simple moving average is $82.59 and its two-hundred day simple moving average is $77.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 2.91.

AAR (NYSE:AIR) last issued its earnings results on Wednesday, May 28th. The aerospace company reported $0.83 earnings per share for the quarter. AAR had a return on equity of 12.29% and a net margin of 1.01%.The company had revenue of $553.30 million for the quarter. As a group, research analysts forecast that AAR will post 3.77 EPS for the current fiscal year.

Insider Transactions at AAR

In other AAR news, CEO John Mcclain Holmes III sold 38,462 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the completion of the sale, the chief executive officer owned 260,141 shares of the company’s stock, valued at $21,721,773.50. This represents a 12.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.60% of the stock is currently owned by insiders.

Institutional Trading of AAR

Several hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new stake in shares of AAR in the 3rd quarter valued at about $341,000. Castleark Management LLC acquired a new position in AAR during the 3rd quarter valued at approximately $7,550,000. CANADA LIFE ASSURANCE Co raised its stake in AAR by 3.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 31,623 shares of the aerospace company’s stock worth $2,780,000 after acquiring an additional 997 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of AAR in the third quarter worth about $933,000. Finally, Dark Forest Capital Management LP purchased a new stake in AAR in the third quarter valued at $1,011,000. Institutional investors own 90.74% of the company’s stock.

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.