AAR’s (AIR) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of AAR (NYSE:AIR) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $85.00 price objective on the aerospace company’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com cut AAR from a hold rating to a sell rating in a research note on Wednesday, September 11th. Stifel Nicolaus reduced their price objective on AAR from $86.00 to $85.00 and set a buy rating on the stock in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $83.50.

AAR Stock Performance

Shares of AIR opened at $64.68 on Tuesday. AAR has a 12-month low of $54.71 and a 12-month high of $76.34. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83. The company has a market cap of $2.29 billion, a PE ratio of 38.05 and a beta of 1.55. The stock has a 50-day moving average price of $64.47 and a 200-day moving average price of $66.60.

AAR (NYSE:AIR) last announced its earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $661.70 million during the quarter, compared to analyst estimates of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.31%. AAR’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, equities analysts forecast that AAR will post 3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in AAR during the 4th quarter valued at about $21,511,000. Wells Fargo & Company MN boosted its stake in shares of AAR by 2.3% during the fourth quarter. Wells Fargo & Company MN now owns 149,395 shares of the aerospace company’s stock valued at $9,322,000 after purchasing an additional 3,308 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of AAR in the fourth quarter worth approximately $468,000. Quadrature Capital Ltd increased its stake in shares of AAR by 77.3% in the fourth quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock worth $1,870,000 after buying an additional 13,075 shares during the period. Finally, Nebula Research & Development LLC bought a new position in shares of AAR during the fourth quarter valued at about $709,000. 90.74% 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 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.