Brokerages Set AAR Corp. (NYSE:AIR) Price Target at $80.20

AAR Corp. (NYSE:AIR) has been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $80.20.

A number of equities analysts have issued reports on the stock. Truist Financial cut their target price on shares of AAR from $81.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, March 28th. KeyCorp dropped their price objective on shares of AAR from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised AAR from a “sell” rating to a “hold” rating in a research note on Saturday, April 19th.

AAR Stock Down 0.5%

AIR stock opened at $67.63 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 1.39 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $59.51 and its 200 day moving average price is $62.84. AAR has a 52 week low of $46.51 and a 52 week high of $76.34. The company has a market cap of $2.44 billion, a P/E ratio of -187.86 and a beta of 1.43.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a positive return on equity of 10.86% and a negative net margin of 0.46%. The business had revenue of $678.20 million during the quarter, compared to the consensus estimate of $699.13 million. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, research analysts expect that AAR will post 3.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently modified their holdings of AIR. Stanley Laman Group Ltd. grew its position in shares of AAR by 2.2% in the fourth quarter. Stanley Laman Group Ltd. now owns 77,371 shares of the aerospace company’s stock valued at $4,741,000 after purchasing an additional 1,649 shares during the period. Rhumbline Advisers boosted its stake in AAR by 0.4% in the 4th quarter. Rhumbline Advisers now owns 115,867 shares of the aerospace company’s stock worth $7,100,000 after buying an additional 455 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in AAR by 1.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 31,168 shares of the aerospace company’s stock valued at $1,910,000 after buying an additional 429 shares during the period. CIBC Asset Management Inc purchased a new stake in AAR in the 4th quarter valued at about $217,000. Finally, Venturi Wealth Management LLC increased its stake in shares of AAR by 1,965.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,322 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.