AAR (NYSE:AIR) Hits New 1-Year High – Here’s What Happened

AAR Corp. (NYSE:AIR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $143.46 and last traded at $141.65, with a volume of 678815 shares changing hands. The stock had previously closed at $143.14.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings raised AAR from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Truist Financial upgraded shares of AAR to a “strong-buy” rating in a research report on Friday, May 1st. KeyCorp cut shares of AAR from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Finally, Royal Bank Of Canada upped their price target on shares of AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.20.

AAR Stock Performance

The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $118.76 and a 200-day moving average price of $110.11. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 31.74 and a beta of 1.09.

Hedge Funds Weigh In On AAR

A number of large investors have recently bought and sold shares of AIR. Optiver Holding B.V. lifted its stake in shares of AAR by 218.6% in the first quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 188 shares during the period. Glenmede Trust Co. NA acquired a new position in AAR during the first quarter worth about $301,000. Edgestream Partners L.P. purchased a new position in AAR in the first quarter valued at about $1,417,000. California State Teachers Retirement System increased its holdings in AAR by 25.4% in the first quarter. California State Teachers Retirement System now owns 47,025 shares of the aerospace company’s stock valued at $5,147,000 after buying an additional 9,525 shares in the last quarter. Finally, Regal Partners Ltd acquired a new stake in shares of AAR during the 1st quarter valued at approximately $504,000. Hedge funds and other 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.