AAR (NYSE:AIR) Price Target Raised to $120.00 at KeyCorp

AAR (NYSE:AIR) had its price objective boosted by investment analysts at KeyCorp from $109.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. KeyCorp’s price target indicates a potential upside of 10.64% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $128.00 price target (up from $107.00) on shares of AAR in a research note on Friday, March 6th. Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research note on Monday, December 29th. Royal Bank Of Canada lifted 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. Zacks Research lowered AAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of AAR in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.80.

AAR Trading Up 4.8%

NYSE AIR opened at $108.46 on Wednesday. AAR has a 12-month low of $46.51 and a 12-month high of $121.64. The company has a fifty day simple moving average of $109.82 and a two-hundred day simple moving average of $92.34. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.29 billion, a P/E ratio of 42.53 and a beta of 1.19.

AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm had revenue of $845.10 million for the quarter, compared to analyst estimates of $812.58 million. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, analysts forecast that AAR will post 3.77 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Mcclain Holmes III sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total value of $1,084,400.00. Following the completion of the transaction, the chief executive officer owned 237,064 shares of the company’s stock, valued at $25,707,220.16. The trade was a 4.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher A. Jessup sold 23,621 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was 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 owned 65,769 shares in the company, valued at $6,382,881.45. The trade was a 26.42% decrease in their position. 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 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock worth $133,319,000 after purchasing an additional 878,188 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of AAR by 297.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock valued at $49,233,000 after purchasing an additional 445,026 shares in the last quarter. UBS Group AG lifted its stake in shares of AAR by 709.2% in the 3rd quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after purchasing an additional 427,906 shares during the period. State Street Corp boosted its holdings in AAR by 17.1% during the fourth quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after buying an additional 339,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings 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.