AAR (NYSE:AIR) Hits New 52-Week High – What’s Next?

AAR Corp. (NYSE:AIR) shares hit a new 52-week high during trading on Monday . The company traded as high as $113.99 and last traded at $114.1720, with a volume of 7576 shares changing hands. The stock had previously closed at $113.09.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Truist Financial set a $107.00 price target on AAR in a report on Friday, January 9th. Zacks Research raised AAR from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of AAR in a report on Monday, January 26th. They issued a “neutral” rating and a $121.00 price objective for the company. Finally, Jefferies Financial Group set a $112.00 price objective on shares of AAR and gave the stock a “buy” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, AAR currently has an average rating of “Moderate Buy” and a consensus price target of $110.80.

AAR Trading Up 2.0%

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 45.10 and a beta of 1.23. The firm’s fifty day moving average is $93.02 and its 200-day moving average is $84.09.

AAR (NYSE:AIR) last issued its quarterly earnings results on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $795.30 million during the quarter, compared to the consensus estimate of $760.95 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Equities analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current year.

Insiders Place Their Bets

In other AAR news, SVP Christopher A. Jessup sold 23,621 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $97.05, for a total value of $2,292,418.05. Following the completion of the sale, the senior vice president directly owned 65,769 shares in the company, valued at approximately $6,382,881.45. This trade represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 30,000 shares of AAR stock in a transaction on Monday, January 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,925,000.00. Following the completion of the sale, the chief executive officer directly owned 237,064 shares of the company’s stock, valued at approximately $23,113,740. This trade represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 128,984 shares of company stock valued at $12,517,090 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of AAR

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in AAR by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after buying an additional 904 shares during the period. Millennium Management LLC raised its position in shares of AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after purchasing an additional 35,608 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AAR by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock worth $5,453,000 after purchasing an additional 4,288 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AAR in the 2nd quarter worth $238,000. Finally, Truist Financial Corp grew its position in AAR by 29.3% in the 2nd quarter. Truist Financial Corp now owns 9,760 shares of the aerospace company’s stock valued at $671,000 after purchasing an additional 2,209 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.