AAR (AIR) PT Raised to $53.00 at Canaccord Genuity

AAR (NYSE:AIR) had its price objective lifted by analysts at Canaccord Genuity from $52.00 to $53.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the aerospace company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 14.74% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Seaport Global Securities reiterated a “buy” rating and issued a $52.00 price objective on shares of AAR in a research note on Friday, July 13th. ValuEngine upgraded shares of AAR from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of AAR from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, September 11th. Finally, SunTrust Banks lowered shares of AAR from a “buy” rating to a “hold” rating and dropped their price objective for the company from $50.00 to $47.00 in a research note on Tuesday, September 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. AAR currently has an average rating of “Buy” and an average target price of $52.00.

AAR stock opened at $46.19 on Wednesday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 26.33 and a beta of 1.24. The company has a current ratio of 2.83, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. AAR has a twelve month low of $36.46 and a twelve month high of $51.52.

AAR (NYSE:AIR) last released its quarterly earnings data on Tuesday, September 25th. The aerospace company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $466.30 million for the quarter, compared to analyst estimates of $452.72 million. AAR had a net margin of 1.08% and a return on equity of 7.29%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. equities research analysts forecast that AAR will post 2.66 earnings per share for the current year.

In other AAR news, VP Robert J. Regan sold 24,239 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $47.36, for a total value of $1,147,959.04. Following the completion of the sale, the vice president now directly owns 116,777 shares of the company’s stock, valued at $5,530,558.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Eric Pachapa sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $46.75, for a total transaction of $140,250.00. Following the completion of the sale, the chief accounting officer now directly owns 9,626 shares of the company’s stock, valued at $450,015.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,739 shares of company stock worth $4,850,280. Company insiders own 7.43% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AIR. Glenmede Trust Co. NA grew its position in AAR by 11,341.5% in the second quarter. Glenmede Trust Co. NA now owns 698,849 shares of the aerospace company’s stock worth $32,490,000 after acquiring an additional 692,741 shares in the last quarter. Franklin Resources Inc. grew its position in AAR by 24.8% in the first quarter. Franklin Resources Inc. now owns 3,329,981 shares of the aerospace company’s stock worth $146,885,000 after acquiring an additional 662,512 shares in the last quarter. Advisors Asset Management Inc. grew its position in AAR by 518.1% in the second quarter. Advisors Asset Management Inc. now owns 357,536 shares of the aerospace company’s stock worth $3,010,000 after acquiring an additional 299,692 shares in the last quarter. Allianz Asset Management GmbH grew its position in AAR by 431.7% in the first quarter. Allianz Asset Management GmbH now owns 333,920 shares of the aerospace company’s stock worth $14,729,000 after acquiring an additional 271,122 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in AAR by 6,834.5% in the second quarter. Federated Investors Inc. PA now owns 218,159 shares of the aerospace company’s stock worth $10,142,000 after acquiring an additional 215,013 shares in the last quarter. 93.92% of the stock is owned by institutional investors.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.

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Analyst Recommendations for AAR (NYSE:AIR)

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