AAR (NYSE:AIR) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of AAR (NYSE:AIR) in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a $128.00 price objective on the aerospace company’s stock, up from their prior price objective of $107.00.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of AAR in a research report on Monday, January 26th. They set a “neutral” rating and a $121.00 price objective for the company. Zacks Research raised shares of AAR from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Wall Street Zen raised shares of AAR from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. KeyCorp boosted their price objective on AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Jefferies Financial Group increased their target price on AAR to $135.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.60.

AAR Stock Performance

NYSE AIR traded down $2.35 during trading on Friday, reaching $108.36. 563,565 shares of the company’s stock were exchanged, compared to its average volume of 333,234. 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 business has a 50 day moving average price of $105.80 and a 200-day moving average price of $89.50. The stock has a market capitalization of $4.29 billion, a P/E ratio of 42.49 and a beta of 1.19. AAR has a fifty-two week low of $46.51 and a fifty-two week high of $121.64.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The company had revenue of $795.30 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AAR

In related news, CFO Sarah Louise Flanagan sold 10,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $108.56, for a total value of $1,167,020.00. Following the completion of the sale, the chief financial officer directly owned 32,848 shares in the company, valued at approximately $3,565,978.88. The trade was a 24.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jessica A. Garascia sold 4,787 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $95.25, for a total value of $455,961.75. Following the sale, the chief accounting officer directly owned 29,557 shares in the company, valued at $2,815,304.25. This represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 128,984 shares of company stock worth $12,517,090 over the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of AAR by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company’s stock worth $336,229,000 after purchasing an additional 281,871 shares in the last quarter. State Street Corp raised its stake in AAR by 17.1% in the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock valued at $192,150,000 after purchasing an additional 339,595 shares in the last quarter. Wellington Management Group LLP lifted its position in AAR by 17.4% during the fourth quarter. Wellington Management Group LLP now owns 1,745,352 shares of the aerospace company’s stock worth $144,498,000 after purchasing an additional 258,577 shares during the period. Invesco Ltd. grew its stake in AAR by 4.2% during the second quarter. Invesco Ltd. now owns 1,208,796 shares of the aerospace company’s stock worth $83,153,000 after buying an additional 48,376 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in AAR by 36.9% during the third quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after buying an additional 311,258 shares in the last quarter. 90.74% of the stock is 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.