Benchmark Increases AAR (NYSE:AIR) Price Target to $83.00

AAR (NYSE:AIR) had its target price boosted by Benchmark from $65.00 to $83.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Other research analysts have also recently issued reports about the stock. Truist Financial increased their price objective on shares of AAR from $68.00 to $81.00 and gave the company a buy rating in a report on Friday, December 22nd. Stifel Nicolaus increased their price objective on shares of AAR from $80.00 to $81.00 and gave the company a buy rating in a report on Friday, December 22nd. William Blair started coverage on shares of AAR in a report on Monday, January 29th. They issued an outperform rating for the company. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $80.00 price objective on shares of AAR in a report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $81.25.

AAR Price Performance

NYSE AIR opened at $63.07 on Monday. AAR has a 52 week low of $50.06 and a 52 week high of $73.95. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 37.10 and a beta of 1.67. The company has a 50-day moving average price of $63.41 and a two-hundred day moving average price of $63.04.

AAR (NYSE:AIR) last posted its earnings results on Thursday, March 21st. The aerospace company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. AAR had a net margin of 2.73% and a return on equity of 10.17%. Analysts forecast that AAR will post 3.3 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Mcclain Holmes III sold 28,145 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the completion of the sale, the chief executive officer now directly owns 303,621 shares in the company, valued at $17,597,873.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jessica A. Garascia sold 7,352 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total transaction of $465,896.24. Following the completion of the sale, the chief accounting officer now directly owns 28,165 shares in the company, valued at $1,784,816.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Mcclain Holmes III sold 28,145 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total transaction of $1,631,284.20. Following the sale, the chief executive officer now owns 303,621 shares of the company’s stock, valued at $17,597,873.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,747 shares of company stock worth $3,858,323. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On AAR

Several hedge funds have recently made changes to their positions in AIR. Quantbot Technologies LP purchased a new stake in shares of AAR in the 1st quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of AAR in the 4th quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of AAR in the 3rd quarter valued at approximately $33,000. Point72 Hong Kong Ltd purchased a new stake in shares of AAR in the 1st quarter valued at approximately $44,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AAR in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors 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. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.